Buffalo, NY Retech Systems LLC has signed a deal to lease 49,000 s/f at the Northland Workforce Training Center. The completion of this deal with the California-based firm means that the facility located at 683 Northland Ave. is now 93% occupied.
Richard Ryall Ledyard of Cushman & Wakefield/Pyramid Brokerage Co. handled the negotiations for the lease transaction on behalf of the tenant while Tom Mancuso of Mancuso Development represented the owner.
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,