Broker Tom Hill III, shown here in downtown Waterbury holding a map of the city, has joined his independently operated firm with Coldwell Banker Commercial CCS – Scalzo Group.
An expanding commercial real estate group was in need of a broker with a national designation, and a nationally designated broker was in need of a larger platform. In Waterbury, the two have met in the middle.
This week, Paul Scalzo, president of Scalzo Group Real Estate Services, announced that independent broker Tom Hill III has joined Coldwell Banker Commercial CCS – Scalzo Group as vice president.
As a result of the agreement, Hill will continue to represent the commercial needs of the Greater Waterbury area at his office at 922 Chase Parkway and will operate under the name Coldwell Banker Commercial CCS Scalzo – Tom Hill Group.
Hill will spearhead the organization’s strategic plans to grow and expand its presence in the Greater Waterbury area, with a strong emphasis on the Danbury-to-Waterbury Interstate 84 corridor.
“Tom has close ties to the Waterbury community and his integrity, professionalism and in-depth knowledge of the area’s commercial and industrial real estate markets will bring tremendous value to our company. We are very excited to have him on board and are looking forward to a successful partnership with him,” said Scalzo.
“I’m pretty impressed with Coldwell. They gave me $10 million worth of deals right off the bat,” said Hill, who will be working on the buyer/tenant representation side of commercial real estate, where he formerly was a listing agent for owners.
“I have to match companies up with the right properties, which is a little different for me. Listing has been my thing, but I’m doing what I have to in order to do the job correctly,” he added.
Currently, the group is working to find new inventory. While Hill said there is no shortage of available space in the Greater Waterbury area, he is interested in finding unlisted or new inventory.
“Sometimes people want to sell but they don’t want to broadcast it, so we’re working on strategies to identify new stuff that hasn’t been on the market,” said Hill.
In the meantime, Hill has old business to attend to, with roughly 20 deals in the works from previous clients that must be completed.
‘Compelling Package’
Hill brings over 20 years of real estate experience to his new role. He is one of only 300 worldwide brokers that have earned two of the industry’s most prestigious designations, Certified Commercial Investment Member and Society of Industrial & Office Realtors, and the only broker in the Waterbury area to have reached that achievement.
He is also the host of a weekly radio show on WATR-1320 AM, “The Tom Hill Show,” which focuses on the region’s economic development and quality of life issues; and the host/producer of “Spot Light on Tourism,” which is sponsored by the Waterbury Region Convention & Visitors Bureau.
For the last few years, Coldwell Banker Commercial has been looking to Paul Scalzo’s group to franchise throughout the state of Connecticut. The group has been spending the last several months analyzing different areas outside of Danbury to determine which location will best fit its strategy.
Scalzo has been located in the Danbury region since the late 1980s, when he started with Scalzo Realty. From there he moved to a Century 21 franchise, then to a Century 21 Commercial franchise, and finally to Coldwell Banker Commercial. The group expanded into Waterbury earlier this year.
“The senior guy over at Scalzo, Doug Rose, opened up an office in Waterbury, and the group determined from their contacts in the city that they needed someone with a CCIM or SIOR designation on the ground to participate in the national business,” said Hill. “They came to me and offered a compelling package that I couldn’t turn down. These national designations really pay off. There are only five or six of us in the state with double designations and I’m the only one in Waterbury, so I was the guy they needed.”
Business in Waterbury is moving, and moving swiftly, he said. A new $300 million arts, entertainment and education cluster currently being erected in the city’s downtown section is working to attract business.
“We just sold two buildings in the downtown for $2 million each. With [the University of Connecticut] opening in the downtown and the fact that we have a new mayor that’s on the ball, people are really starting to look at Waterbury,” said Hill.
With its former mayor stepping down after much publicized legal, financial and political troubles, Waterbury was under the control of the Waterbury Oversight Board – a state-run committee sent in to make sure the city is able to clean itself up.
“We have to get our books on the ball or we won’t be able to run ourselves,” said Hill. “But now with the new mayor and new economic development staff, businesses are able to see what the city’s plan is to get out of the hole.”
A member of the Waterbury Chamber of Commerce, Hill said he has a strong commitment to the community and its economic growth.
Waterbury Mayor Michael Jarjura said, “I am extremely excited about the news that my friend and fellow supporter of Waterbury, Tom Hill, has joined Coldwell Banker Commercial. Tom knows Waterbury and this real estate market better than almost anyone. His love and commitment to our city, to our stable neighborhoods and to those of us who call it home, is second to none. I am confident that he will bring to Coldwell Banker Commercial his many strengths and continue his work to make Waterbury the best it can be. I wish Tom all the best in his new endeavor, and know that I will be able to continue to call on him whenever the need arises.”
As part of the merger, Hill’s Web site, www.tomhill.com, will link with www.coldwellbankerccs.com and continue to focus on the Waterbury market. He was also able to retain the services of his wife, who works as his personal assistant.
Coldwell Banker Commercial has independently owned and operated affiliate real estate offices in more than 325 markets throughout the world and is an industry leader in providing commercial real estate solutions and the management of commercial real estate property.
