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
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
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,
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,
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