News: Brokerage

Cornerstone Group relocates to new Brighton office

Brighton, NY The Cornerstone Group, Ltd. recently brokered the purchase of its new offices for its businesses, at 460 White Spruce Blvd. This multi-tenanted 6,200 s/f building had been previously owned by FGG Florida Partnership Ltd. Rochester Orthopedics had occupied the building until late 2016 and has relocated within the market.

Cornerstone moved its main offices to the building in March, following a renovation of a portion of the space.  The real estate development firm engaged Atlas Contractors LLC for the seven-week renovation, which upgraded the space into a professional, modern office. There is ample parking and a full sized basement for legal office or storage purposes. 

Its central location is ½ mile from Route 390 and the City of Rochester. It is also 1 mile from the brand-new Citygate Shopping plaza (anchored by Costco Wholesale) and 1.5 miles from the new Collegetown mixed-use development. The building is also close to several local colleges, including Monroe Community College (1/4 mile), University of Rochester and Strong Hospital (2 miles), and one of the largest private colleges in the country - Rochester Institute of Technology (3.5 miles).  

Cornerstone continues to expand and currently employs more than 25 people, along with its property management arm Cornerstone Property Managers.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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
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,