News: Brokerage

Buckingham Properties clears site of former Olympic Bowl for redevelopment

Buckingham Properties, LLC has cleared the former site of Olympic Bowl at 1350 Scottsville Rd. to make way for new economic development. The land is a prime, ready-to-build site with utilities for new construction of a modern industrial, manufacturing or distribution facility. The site offers 6.65 acres of buildable land with 800 feet of frontage on Scottsville Rd. The property benefits from its location just minutes from the Rochester International Airport and downtown Rochester, strategic location within an enterprise cluster, as well as outstanding transportation access and minimal required site preparation. "This piece of property is important in luring new business or industry to locate in the Rochester community or for local business expansion and represents a great opportunity for job creation," said Larry Glazer. "This is another vital tool in our economic development toolbox that will help give us the edge when attracting new and promising investment to the community." Today, more and more companies are looking for sites where they can have a shovel in the ground as quickly as possible. This new site paves the way for businesses to quickly locate new operations on property ready for development. With the Scottsville Rd. site, companies can count on certain qualities and they don't have to do as much due diligence on the front end-all impediments to development have been identified and resolved and building can begin within 60 days of a development decision. One of the fastest growing trends in the site location business is the demand for "project ready" sites. Companies move much faster today than in the past when making site location decisions. They want sites ready-to-go or at a least with a definitive plan in place to minimize risk and expedite development schedules.
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REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
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The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

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