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June 24, 2024 / 2024 Power 25 Real Estate

2024 Power 25 Real Estate: Mark Duclos

Mark Duclos
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Mark Duclos is a commercial real estate industry veteran and a go-to resource on the region’s industrial sector.

He typically represents southern New England companies that are in the manufacturing, warehouse and service industries.

Connecticut, over the last four to six years, has seen a significant rise in massive new warehouse properties for e-commerce giants like Amazon. But that activity, according to Duclos, has begun to slow, and he’s seen a much more active leasing and sales market for properties in the 50,000- to 100,000-square-foot range.

“Part of this is due to the fact the developers have significantly curbed speculative, big-box development,” Duclos said. “Most big box is not built with a tenant commitment.”

Duclos has been involved in several major recent deals, including the $7.45 million sale of Carling Technologies’ 129,506-square-foot manufacturing building in Plainville, at 60 Johnson Ave. The property was purchased by Fifth Continental Properties LLC.

Sentry also provided construction management to the CT Lottery, for its relocation from Rocky Hill to 15 Sterling Drive, in Wallingford.

In terms of what’s ahead for the rest of 2024, Duclos said demand for industrial space will be mooted compared to more recent years, while absorption will remain suppressed. Even still, lease rates will continue to rise, he said.

Duclos is active in the region’s real estate community. He has been on the boards of the Hartford Real Estate Finance Association and CT/Western Massachusetts chapter of the Society of Industrial and Office Realtors.

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