Page 18 - BusinessWest January 24, 2022

nessWest’s Top Entrepreneurs for 2022, the latest winners of an award first handed out in 1996.
Actually, this is the second time they’ve won the award — sort of. Indeed, they were, and still are, part of the ownership and management team of the Springfield Thunderbirds that took home the Top Entrepreneur award for 2017 for their efforts to not only bring hockey back to the city but make it a force in efforts to reinvigorate the downtown.
The two were already serial entrepreneurs
at the time MassMutual was looking to sell the Tower Square complex in 2017, owning every- thing from hotels to fast-food restaurants; from an information-technology-solutions company to early-education facilities. But this was their first real joint venture and certainly their first class-A office tower, and Panteleakis said they entered this exercise with what he called a “thirst for learning.”
“And that’s unusual,” he went on. “Most peo- ple who own buildings always think they know more than the broker; it’s rare for them to listen. I was shocked when they started instituting the plan, and they really stuck to it.”
While listening has been a major ingredient in their success at Tower Square — and in business in general — there are many others, the partners told BusinessWest, including patience, especially amid COVID-19, which has certainly slowed the pace of progress. But also watching and learn- ing what has worked elsewhere (we’ll see some examples of that) and applying it to their venture.
Persistence and adherence to the plan are also keys, they said.
“We just keep moving and keep achieving one target at a time,” said Mitta in describing the
overall strategy for the property. “Right now, we’re at 70% occupancy, compared to roughly 40% when we took over the building. So we still have another 30% to go, so we’re not there yet, and we work on a day-to-day basis based on the leads that we get. We’ve come this far, and we hope to go all the way to the finish line, to 100%.”
“
always think they know more than
the broker; it’s rare for them to
”
Patel concurred, noting that, while nothing has really been easy with this venture — under- taken mostly during the two years of COVID and made much expensive and complicated because of it (more on that later) — there are encourag- ing signs. Overall, the project has been a learning experience and has emboldened the partners in many ways.
“This project has given us a lot of confidence,” he said. “If there’s a space, and the structure is good, like we have here, we know we can create something in our mind and move forward.”
Tim Sheehan, Springfield’s chief Development officer, lauded the work at Tower Square, saying that, in many respects, the partners’ efforts mir- ror the original mission of the property and take
Top Entrepreneur
Continued on page 20
Most people who own buildings
The new façade on the hotel at Tower Square is symbolic of the changes that have taken place at the property.
listen.
Vid and Dinesh,
Congrats!
You said you’d reinvent and
bring an eclectic mix to Tower Square and the Marriott, and
you have. Thank you for your continued belief and investment in our Springfield. Good health and continued success. God Bless.
Respectfully,
Mayor Domenic J. Sarno
We congratulate 2022 Top Entrepreneurs Vid Mitta and Dinesh Patel on their many achievements and work towards building downtown Springfifield’s future. We are excited to see what’s ahead!
pullcom.com @pullmancomley
SPRINGFIELD BRIDGEPORT HARTFORD STAMFORD WATERBURY WESTPORT WHITE PLAINS
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JANUARY 24, 2022
TOP ENTREPRENEUR 2021
BusinessWest