Binghamton, NY Bill Anninos and Rick Searles of CBRE|Syracuse sold two industrial properties located at 191 and 196 Corporate Dr. The properties sold for a total of $6.35 million.
191 Corporate Dr. contains 127,735 s/f and 196 Corporate Dr. totals 71,700 s/f.
The seller was GreatStar Tools USA Inc. and the buyer was Rogers Service Group, Inc.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,