News:
Brokerage
Posted: May 16, 2023
Pyramid Management Group reports 20% surge in January 2023 sales
Syracuse, NY Pyramid Management Group reports a significant sales surge across its portfolio of shopping, dining, and entertainment destinations, with sales up by nearly 20% year over year in January 2023.
This growth underscores Pyramid’s commitment to creating vibrant, dynamic destinations for its guests and strategy of continually reinvesting, reinventing, and re-imagining its shopping centers to thrive in today’s marketplace for decades to come.
“We are thrilled with the strong start to the year and the exceptional performance of our portfolio,” said Stephen Congel, CEO, Pyramid Management Group. “This is testament to our strength of leasing and commitment to adapt and evolve while continually reinvesting in our properties for long-term growth and success.”
The Pyramid portfolio includes some of the most successful shopping centers in the country, including Palisades Center Crossgates and Destiny USA with a focus on offering a wide range of shopping, dining, and entertainment options, alongside on-site hospitality and residential. Pyramid’s dedication to innovation and the evolution of its properties has helped create experiential “live, work, play” destinations that keep customers coming back and ensures that Pyramid continues to be the dominant property in the markets it operates.
“Our success is driven by our ability to quickly adapt to changing consumer preferences,” Congel said. “We are constantly staying ahead of the curve by adding new and exciting retailers, incorporating innovative amenities, and offering mixed-uses that provide unique experiences for our guests that go well beyond the traditional shopping experience.”
Pyramid is confident in the continued growth of its portfolio throughout the year. The company is already working on several projects, including the addition of new retailers like Primark and continuing to make significant progress on its long-term plan to bring diversified offerings, such as residential and hospitality, to its enclosed shopping centers.
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx
Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million. “This property drew tremendous interest as it was a
Quick Hits
Columns and Thought Leadership
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
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
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,