Guy Blake, CCIM, an associate broker with Cushman & Wakefield / Pyramid Brokerage Company's Hudson Valley office, brokered the sale of two Capital Region buildings for $7.15 million. Blake represented the buyer, 225 Tower Drive Associates, LLC.
326 Old Niskayuna Rd. is a 42,646 s/f industrial building fully net leased to two tenants, Clopay Overhead Doors and Tire Centers, LLC. Built in 2003, the building features 26-ft. clear ceilings, nine loading docks and two drive-in doors. It sits on 2.83 acres, is of split faced ACMU construction, and has a fully adhered rubber roof.
4 Stanley Circle, is a 64,000 s/f single-tenant industrial building net leased to UPS. Completed in 2004, the building features 26-ft. clear ceilings, eight loading docks and two drive-in doors. Set on a 4.5 acre parcel, the building is constructed of 8" pre-cast Versacore insulated concrete wall panels (tilt-up) and has a .045" fully adhered Carlisle rubber roof.
"They were ideal properties for this buyer," said Blake. "They were looking to complete the down leg of a 1031 exchange and, since they have several similar buildings elsewhere in NY and NJ, they were a perfect fit."
Pyramid's Hudson Valley office, which is located in Newburgh, also handled the sale of the relinquished property, 225 Tower Dr., Middletown. Tags: