News:
Brokerage
Posted: March 10, 2014
Foster and Murphy of Summit Realty broker sale of former Met Life building; Represent the buyer, 125 Business Park Group Utica, LLC
Summit Realty Management, LLC has brokered the sale of the former Met Life building. The property, located at 125 Business Park Dr., was formerly occupied by Met Life three years ago. The building was built in 1990 and totals 80,000 s/f of class A office space.
Marty Dowd and Peter Finn of CBRE Syracuse represented the seller. Jeffrey Foster and John Murphy of Summit represented the buyer, 125 Business Park Group Utica, LLC.
In addition to the purchase of the 125 Business Park Dr. facility, Orbcomm will be the first tenant of the building. The company signed a 10-year lease totaling 13,700 s/f.
Dowd and Dave Thomas of CBRE Syracuse represented Orbcomm. Foster and Murphy of Summit represented the owner.
Tags:
Brokerage
MORE FROM Brokerage
Horvath & Tremblay Announces Strategic Integration of B6 Real Estate Advisors, Expanding New York City Presence
New York, NY Horvath & Tremblay, a premier real estate services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal & valuation services, announced the strategic integration of B6 Real Estate Advisors into the firm’s growing national platform.
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
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
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
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,
