News: Brokerage

Champion Elevator completes acquisition of Westech Elevator, continues expansion plans in New York

Shown (from left) are: Donald Gelestino, president; Donna Scibetta, VP violations & testing; Robert Masterson, president of modernization & construction; Joseph Corrado, SVP; and Stirling Collins, SVP

New York, NY Champion Elevator has acquired New York-based Westech Elevator, a provider of elevator service, repair, modernization, and inspections of elevators. The acquisition will be the foundation for Champion Elevator’s New York expansion plans. This will enhance Champion’s position as a partner to building owners as a leading independent alternative to the multinational elevator companies. Champion will provide employees the opportunities to be part of a family culture with advancement goals. 

Lucas Kairdolf and Yamil Quinones are the past owners of Westech and look forward to this strategic alliance of combining talent and resources. Westech was established in 2004 and has over 40 employees and over 775 units on service. Westech is an exceptional service provider that specializes in mid-market elevators and is a reliable elevator partner who could provide an amazing customer experience. The past owners have worked hard to deliver great service and good employment. Champion Elevator is now going to enhance the customer and employee experience for all.

Geographic expansion is a strategic goal for Champion Elevator as the company works diligently to increase its service base and footprint. I personally lead company operations and the acquisition efforts to help identify partnership opportunities within the industry. Champion looks for other like-minded entrepreneurs to join forces with who share our unique vision to provide the best employee experience combined with honest transparent elevator service.

Champion is not looking to be the biggest, but we want to be the best”….we will continue to build a team that is second to none and provide white glove elevator service at affordable and fair prices. Champion realizes strategic geographic expansion opportunities and has secured $100+m for future strategic growth plans. Keep a lookout for future Champion expansion!

Headquartered in New York and Connecticut, Champion is a leader in quality elevator maintenance, repair, modernization, violation removal, testing and inspection services.

The firm is also a member of IREON.

Champion services residential and commercial units from passenger to freight. Champion’s family culture combined with state-of-the-art tools and field technical expertise creates more positive references from building owners and facility managers!

MORE FROM Brokerage

SABRE coordinates sale of six properties totaling 199,845 s/f

Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent