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June 24, 2024 / 2024 Power 25 Real Estate

2024 Power 25 Real Estate: Nicholas Morizio

Nicholas R. Morizio
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Nicholas Morizio is a veteran commercial real estate broker in Greater Hartford, who largely focuses on the industrial market.

He has been involved in several significant deals over the past year, including the $7.45 million sale of manufacturer Carling Technologies Inc.’s former 129,506-square-foot headquarters in Plainville, at 60 Johnson Ave., to Fifth Continental Properties.

He was also involved in the $4.6 million sale of “Metro Park North,” at 1679 King St., in Enfield to Massachusetts-based developer Winstanley Enterprises, which plans to turn the undeveloped 133.6-acre site into an industrial building with more than 600,000 square feet of space.

Morizio also helped broker significant lease deals in Manchester, at 69 Pavilion Drive, to Clancy Relocation & Logistics; and Norwich, at 40 Wisconsin Ave.

Morizio said the industrial real estate market remains active with steady activity, particularly around build-to-suits and self-storage.

The greatest challenge impacting the industrial market, he said, is finding land to develop new properties.

“I believe the market will still stay strong with developing build-to-suits,” Morizio said.

Outside the industrial market, Morizio said a trend he’s seeing is an increase in office-to-apartment conversions, and the shift of retail space to indoor recreational uses, like pickleball facilities.

Aside from being a deal-maker, Morizio has been a leader in the industry, having been appointed a Counselor of Real Estate and past president of the CT chapter of the Society of Industrial & Office Realtors. He is also in the UConn School of Business Hall of Fame.

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