News: Brokerage

CBRE | Syracuse secures $724,500 and leases 26,978 s/f; includes $395,000 sale by Dowd and Kiesa

Syracuse, NY Michael Finn, managing partner of CBRE | Syracuse, completed the following sales totaling $724,500 and 26,978 s/f in leases: • Larry Van Der Bogart, of CBRE | Syracuse, with Michael McCall, of CBRE | Stamford, CT, represented the tenant, The Triad Group, LLC, in the lease of 4,500 s/f of office space at 6390 Fly Rd., East Syracuse. The Triad Group, which provides workers compensation and disability claims management, relocated from Jamesville for the larger space at Fly Rd. • Marty Dowd and Ed Kiesa, CCIM, represented the buyer, Regina Reng in the $395,000 sale of 6875 E. Genesee St., DeWitt (Lyndon). The 3,428 s/f office/retail building will open as a hair salon and massage studio, specializing in foot massages. • Mark Rupprecht, CCIM, represented the tenant, Ryder Integrated Logistics, in the lease of 6,000 s/f of warehouse space at 209 Wavel St., Syracuse. This will be the location of a new client for Ryder, a logistics, transportation and shipment management company. • Van Der Bogart exclusively brokered the $192,000 sale of 2836 Rte. 20 East, Cazenovia. The office building, formerly occupied by construction company Patriot Enterprises, was purchased by the Cazenovia Universal Truth Association Inc., a not-for-profit Masonic organization. • Van Der Bogart exclusively brokered the lease of 5,200 s/f of office space at 6250 South Bay Rd., Cicero. EJ Group Inc., which leased the space for its sales and telecommunications office, provides water and sewer drainage solutions including frames, grates and manhole covers. • Rick Searles represented the tenant, Synergy Athletics, in the lease of 4,500 s/f of warehouse space at 535 Vestal Pkwy. West, Vestal. Synergy Athletics will use the space for a second fitness facility location. Exit Realty represented the landlord. • Searles represented the landlord, Scarano Properties, and the tenant, Safelite AutoGlass, in the lease renewal of 3,000 s/f of retail space at 313 Vestal Pkwy. East, Vestal. Safelite provides automotive windshield repair and replacement services. • Ed Kiesa, CCIM, represented the tenant, his long-term client Empower Federal Credit Union, in the $137,500 sale of 106 Hunt Ave., Fairmount. Empower purchased the residential property adjacent to its Fairmount branch to expand parking to meet growing customer demand. • Searles exclusively brokered the lease of 2,000 s/f of plaza space at 589 Harry L Dr., Johnson City. The tenant is Empire State Health Solutions, the area’s first and only approved medical marijuana dispensary. • Rupprecht, with Amy Perlman, of CBRE | New England, represented Verizon/Cellco Partnership in the lease of 1,778 s/f of office space at 1116 Commerce Park Dr., Watertown. Pyramid Brokerage Company represented the landlord. Cellco, a provider of wireless telecommunication services, relocated its sales/administrative office from another building in Watertown.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

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,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced