News: Brokerage

CBRE | Syracuse completes multiple sales totaling $1.24 million; Kiesa reps buyer Teomax Properties in $995,000 sale

Michael Finn, managing partner of CBRE | Syracuse, revealed the following sales totaling $1.24 million and 139,407 s/f of leases: * Donald French was the exclusive listing agent, and Ed Kiesa, CCIM, represented the buyer in the $995,000 sale of 2815 Erie Blvd. East, Syracuse. The 18,000 s/f retail building was previously owned by Furniture Row USA, LLC, and occupied by Oak Express and Bedroom Expressions. The buyer, Teomax Properties, LLC, will open a new health club at this location. * Mark Rupprecht, CCIM, of CBRE | Syracuse, with David Tropp, of CBRE | Chicago, IL, represented the tenant, Packaging Corp. of America (PCA), in two lease renewals. PCA renewed its lease of 82,356 s/f space at 4510 Steelway Blvd., Liverpool, and 40,066 s/f of space at 4530 Steelway Blvd., Liverpool. Among its many products, PCA prints corrugated boxes, point of purchase displays and packaging supplies, and uses these spaces for warehouse and distribution. * Kiesa, CCIM, and Marty Dowd represented the landlord in a 10,000 s/f lease renewal at 7839 Maltlage Dr., Liverpool. The tenant, Music & Arts, occupies the space as a distribution, call center and musical instrument repair facility. * Peter Finn, executive vice president, and Dowd, of CBRE | Syracuse, with Tom Hansen, of CBRE | Boston, represented Bank of America in its lease of 6,985 s/f of office space at One Clinton Sq., Syracuse. Bank of America will use the space for its business operations. JF Real Estate represented the landlord. * Finn and Dowd exclusively brokered the $155,000 sale of 306 Grant Ave., Auburn. The 2,473 s/f office building was formerly occupied by Radiotherapy Associates of Auburn. * Kiesa, CCIM, represented the buyer, Church of the Holy Trinity, in the $90,000 purchase of a 2,880 s/f building at 4876 Onondaga Rd., Syracuse. This is a new facility for the church, which had previously been meeting at various locations. Pyramid Brokerage Company represented the seller, Onondaga Hill Masonic Club.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,