Schenectady, NY According to Cushman & Wakefield | Pyramid Brokerage Co., the former Sears at Via|Port Rotterdam was purchased by United Auto Supply, a Syracuse-based wholesale distributor of aftermarket automotive parts and accessories.
The 103,296 s/f building sold for $1.875 million, and will become United Auto Supply’s regional distribution hub. This $6 million dollar investment is expected to create up to 150 jobs and will service customers in Northeastern New York and New England.
Jeffrey D’Amore, SIOR, executive director of Cushman & Wakefield | Pyramid Brokerage Co. was the exclusive broker for the seller. The Via Port mall also includes Via Aquarium, Via Entertainment, 99 Restaurant, Champs Sports, Bath & Body Works, The Avenue, Christopher & Banks, Foot Locker, Victoria’s Secret, Rainbow, Zurich Cinemas, and Shoe Department Encore.
Cushman & Wakefield | Pyramid Brokerage Co. is one of Upstate New York’s largest and only regional commercial real estate services firms with over 100 agents in 10 offices.
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,