News: Brokerage

Empire Commercial Construction building new Jiffy Lube with Guggenheim Retail Real Estate Partners, and ARK 3CS Design Group, LLC

Clay, NY Empire Commercial Construction has reached the halfway point for the new construction of a Jiffy Lube service center. Empire is teaming up with national franchisee, Guggenheim Retail Real Estate Partners, and ARK 3CS Design Group, LLC for design and construction of the 4,200 s/f location on 1.43 acres at 5237 W. Taft Rd. Completion expected in early October of 2022.

“We look forward to developing our new relationship with national franchise developer Guggenheim, to deliver this location for a pioneer in the fast oil change industry,” said Empire president, Jayne Penepent. “Jiffy Lube remains the industry leader in vehicle preventive maintenance, and much like Empire Commercial Construction, is committed to providing customers a convenient, quality service experience.”

The new service center offers a wide range of automotive services including brakes, tires and engine diagnostics. Additionally, the location offers the Jiffy Lube Signature Service Oil Change, comprehensive preventive maintenance to check, change, inspect and fill essential systems and components of the vehicle. Technicians vacuum the interior of the vehicle as well as clean exterior windows. And, with every Jiffy Lube Signature Service Oil Change, customers receive complimentary fluid top off service on vital fluids.

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