News: Brokerage

LeChase Construction Services acquires Sano-Rubin Construction Services

Albany, NY LeChase Construction Services, LLC, one of the nation’s top contractors with 11 offices across the east coast, is expanding its presence in New York’s Capital Region. LeChase acquired Sano-Rubin Construction Services, a highly-respected, family-operated firm with more than 100 years’ experience managing signature projects in the region. Financial terms of the deal were not disclosed.

“We’re extremely proud of what LeChase has built in the Capital Region since opening our office here in 2003. Taking our local presence to the next level has been in our plans, and when the opportunity arose to bring in Sano-Rubin, we jumped at it. With the strength of our combined resources, we will be able to deliver any project, regardless of size or complexity,” said William  Goodrich, CEO and managing partner of LeChase Construction Services.

This move will allow LeChase to accelerate its plan for long-term growth in the area. While today the firms generate a combined $125 million in annual revenue from the Capital Region, the addition of Sano-Rubin will allow LeChase to pursue a wider range of projects in its core markets, which include healthcare, education, industrial, multifamily housing, and entertainment and hospitality. These sectors, which also align with Sano-Rubin’s experience, present significant growth opportunities in the area.

Additionally, Sano-Rubin’s existing clients will benefit from LeChase’s centralized capabilities in preconstruction, scheduling, and construction technology.

To ensure the transition is seamless for customers and staff, the local operations will be merged over time. Sano-Rubin will now operate as Sano-Rubin, a Division of LeChase, under leadership of its current president, Dave Hollander. He and the company’s 70 employees will continue to serve existing clients from their Delaware Avenue office in Albany. Likewise, LeChase’s 50 Capital Region employees will continue to operate from their office in Schenectady, led by LeChase vice president Neil Schiavi. The teams will work together to pursue new business.

“From the start of our talks with LeChase, we zeroed in on our firms’ similar cultures — a commitment to safety, community, building partnerships, delivering excellence and developing employees. It was obviously a great fit for our staff and clients, and allows us to extend the family legacy that Sano-Rubin was built upon. I’m excited to see what we’ll do together as one team with the resources to pursue new opportunities,” said Hollander, president of Sano-Rubin, a Division of LeChase.

LeChase’s notable work in the area includes Mohawk Harbor and projects for BelGioioso Cheese, FAGE USA, University at Albany and GlobalFoundries. Sano-Rubin has completed signature projects for the Albany Institute of History and Art, Fort Orange Club, St. Peter’s Hospital, Ellis Hospital, and the College of Saint Rose, among many others.

LeChase annually manages more than $1 billion in construction across its operations. The firm’s previous acquisitions in the state include the New York Metro firm C.W. Brown, Inc. in 2015, the upstate operations of Lendlease Americas in 2016, and Syracuse’s Northeast Construction Services in 2010.

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
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,

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.
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