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July 26, 2021 / 2021 Power 25 Real Estate

2021 Power 25 Real Estate: John M. McCormick

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John M. McCormick is one of the top brokers in Greater Hartford. He’s the executive vice president of CBRE Hartford, which annually tops the list of largest local deal activity.

CBRE Hartford had $275.8 million in commercial volume activity in 2020 alone, ranking it first in HBJ’s list of top commercial brokers.

In the past year, one of the biggest deals McCormick has been involved in is representing landlord Intercontinental Realty Corp. at 400 Capital Blvd., in Rocky Hill in a 40,000-square-foot lease with MTU Aerospace, the first significant suburban lease to be completed during COVID-19.

Protocols for touring, construction material lead times, and buildout were all new, but both sides were able to make the deal work.

John McCormick

McCormick has been in the business for 30 years and his largest career deal involved the sale of downtown Hartford’s 845,000-square-foot State House Square office complex for $97 million.

He’s also helped lead CBRE’s five-member leasing and investment sales team (Michael Puzzo, Patrick Mulready, Anna Kocsondy and Tina Briggs), which has worked together for over 20 years and collectively completed over 500 leasing assignments and 200 property sales representing over $1 billion of aggregate value.

His team earlier this year was tapped by defense giant Raytheon Technologies to sell the 300-acre plot of land adjacent to Rentschler Field and Pratt & Whitney’s East Hartford headquarters as a potential major logistics hub space.

As we re-emerge from COVID-19, he said there will be some continued uncertainty in the office market.

“Our large employers are well-capitalized and were able to successfully leverage technology during the pandemic so there will be a shift where we see these employers providing more flexible/hybrid work environments going forward,” he said. “Overall, we anticipate increased activity in the Class A office market and should see some momentum going into the latter half of 2021 and throughout 2022. The urban migration trend will also continue to provide opportunities for downtown building owners.”

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