News: Brokerage

NAI Platform completes 27,000 s/f lease extension and expansion

NAI Platform has negotiated a lease extension and expansion into 27,000 s/f of class A office space at 30 Tech Valley Dr. The tenant represented by NAI Platform is SolutionSet, Inc. which is a fast-growing technology company focused on database marketing. Locally founded as I-Centrix in 2000, they are now the data management division of SolutionSet, Inc. which is headquartered in San Francisco and is recognized as the second largest integrated marketing services company in the United States. As its business has grown, so have the demands of its clients who increasingly need 24/7 access to SolutionSet's databases hosted online in its data center. In order to accommodate those needs, SolutionSet required a major electrical and telecom infrastructure upgrade to its existing building or a move would have been necessary. According to Bob Gaito, vice chairman of SolutionSet, "NAI Platform impressed us with their market knowledge and experience in solving high-tech companies' growth need. I would highly recommend their office team of Felton McLaughlin, Daniel O'Brien, and Joe Sausto to other companies in our situation." The existing landlord Hoffman Enterprises owns and manages over 1 million s/f of office buildings in the region, including several hundred thousand square feet in East Greenbush Tech Park. They have a wealth of experience in solving these sorts of issues that fast growing technology companies encounter, many of whom are tenants in the park. As part of a new five-year lease term and an expansion from 20,000 s/f to 27,000 s/f, the landlord agreed to make the necessary and expensive upgrades. Art Dombrowski of Hoffman Enterprises said, "We pride ourselves on developing solid relationships with our tenants and this deal speaks to our ability to meet and exceed their expectations by making it financially attractive for them to grow their businesses in our East Greenbush Tech Park. It was a pleasure working with NAI Platform."
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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.
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,