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24 HARTFORDBUSINESS.COM | JUNE 24, 2024 Spotlighting commercial real estate's major influencers H igher interest rates and construction costs may have slowed some commercial real estate activity over the past year, but major developments, sales and leases remain ongoing across Connecticut. In this week's issue, Hartford Business Journal is publishing its fourth annual Power 25 Real Estate list, which identifies developers, brokers, bankers, lawyers and economic development officials who are having a major impact on the state's commercial real estate and development scene. This isn't an awards section. HBJ's Power 25 Real Estate class was chosen by HBJ's news team. To make the list, individuals must not only be in a position of power, they need to wield it in such a way as to have an outsized impact on the community. The listing includes a mix of estab- lished players as well as some fresh faces. Let us know what you think about the list, and be prepared next year to suggest new names. Greg Bordonaro Editor gbordonaro@hartfordbusiness.com C hris Reilly came into 2024 with big shoes to fill, taking over as the leader of one of Hartford's most active development companies, Lexington Partners. Well-known company founder Marty Kenny died suddenly of a heart attack last September, leaving his longtime friend and colleague Reilly to take over the reins of an ambitious project lineup. Kenny's sons, Patrick and Kevin, are also leaders within Lexington Partners. In January, Reilly unveiled plans to redevelop the shoreline's Westbrook Outlets shopping center into 595 apartments, 1,000 townhomes and nearly 74,000 square feet of retail and entertainment space. Lexington is also part of a team of regional business leaders advancing plans for a phased, mixed-use redevelopment of East Hartford's Founders Plaza office park. The long-term project — known as Port Eastside — would add about 1,000 new apartments and commercial and recreational space along the eastern bank of the Connecticut River. Reilly, who was a physics major at Holy Cross, spent much of his real estate career in property management, including 10 years with The Winn Cos. as a regional vice president; 10 years with Equity Residential as a senior vice pres- ident; and seven years with The Wingate Cos. as president and chief operating officer. Alan Lazowski, well-known as the founder and CEO of LAZ Parking, is also a major force in real estate development in his home city of Hartford and beyond. He is a part- owner of Lexington Partners, which recently completed major projects, including a 292-unit apartment conversion of the former Sisters of St. Joseph of Chambery campus in West Hartford. Lazowski teamed up with New York-based Shelbourne Global Solutions in 2019 to buy the Gold Building office tower in down- town Hartford for $70.5 million. That's where LAZ Parking is now headquartered. He also bought a stake in four large Class A apartment buildings in downtown Hartford, known as the Spectra apartments. They contain a combined 554 mostly market-rate apartments. Lexington Partners is also involved in the conversion of office space at 64 Pratt St./242 Trumbull St., in downtown Hartford, into a residence hall for UConn students. Chris Reilly & Alan Lazowski Chris Reilly & Alan Lazowski Chris Reilly Alan Lazowski POWER 25 REAL ESTATE 2024