Page 74 - BusinessWest September 18, 2023

1550 State Street in Springfield is now one of the many properties in the Macmillan Group portfolio.
chase tenants with attractive offers on rates, even with MassMutual set to vacate large amounts of space.
“I thought it was the most valuable building in Springfield, and
I still think that,” he said. “Where others came in and told them to lower their prices, I did the opposite; I told them they needed to appropriately value the building against the competition and not chase tenants with rental rate. I advised them to establish their rate and strengthen it.”
This mindset of being honest and getting clients to listen has
helped the firm grow its portfolio of clients and properties with Macmillan signs. These include Hadley Park Plaza, Palmer Plaza, the office complex at 877 South St. in Pittsfield, the Laurin Pub- lishing Building at 100 West St. in Pitts- field, 20 Maple St. in Springfield, indus- trial land in Agawam, and many others.
It’s a diverse portfolio, Panteleakis said, adding that the obvious goal mov- ing forward is to broaden and deepen it by being honest with clients and poten- tial clients, and partnering with them to achieve whatever goals they’ve set.
Which brings Panteleakis back to those comments about numbers and projections that he and his partners give to clients, and not telling them what they think they want to hear.
“Some brokers will take the attitude, ‘don’t worry about what it actually sells for — just get the listing first, and then Mother Nature will take care of itself,” he said. “Here, we have a philosophy
that this is not the kind of business we want to do. We rate success on how close we came with our assessment and analysis. Did we give that client the right information?”
Looking Ahead
As they survey the commercial real-estate landscape, and espe- cially the local office market, the three partners at the Macmillan Group take what would be considered the optimistic view about the present and foreseeable future.
“What I see right now is the 3,000- to 5,000-square- foot users just starting to emerge. This year has been incredibly slow, but I’m beginning to see people
look to next year, for what space is available. And I think it’s going to be that way for the next 24 months.”
Macmillan
Continued on page 37
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