Blake of Pyramid’s Hudson Valley office sells 2 buildings for $7,150,000
Date Posted: February 4, 2015
Guy Blake, CCIM, an Associate Broker with Pyramid’s Hudson Valley office, successfully brokered the sale of two Capital Region buildings for $7,150,000. Blake represented the buyer, 225 Tower Drive Associates, LLC.
The first building, 326 Old Niskayuna Rd. in Latham, is a 42,646 sq. ft. industrial building fully net leased to 2 tenants, Clopay Overhead Doors and Tire Centers, LLC. Built in 2003, the building features 26 foot clear ceilings, 9 loading docks and 2 drive in doors. It sits on 2.83 acres of land, is of split faced ACMU construction, and has a fully adhered rubber roof.
The second, 4 Stanley Circle in Latham, is a 64,000 sq. ft. single tenant industrial building net leased to UPS. Completed in 2004, the building features 26 foot clear ceilings, 8 loading docks and 2 drive in doors. Set on a 4.5 acre parcel, the building is constructed of 8” pre-cast Versacore insulated concrete wall panels (tilt-up) and has a .045” fully adhered Carlisle rubber roof.
“They were ideal properties for this buyer”, said Blake, “they were looking to complete the down leg of a 1031 exchange and, since they have several similar buildings elsewhere in NY and NJ, they were a perfect fit.”
Pyramid also handled the sale of the relinquished property, 225 Tower Dr. Middletown, NY.