WNY Real Estate Market Larry Glazer, CEO Buckingham Properties - PowerPoint PPT Presentation

WNY Real Estate Market Larry Glazer, CEO Buckingham Properties

Agenda The Evolution of Buckingham Regional Activity What’s Going on in Rochester? What’s New at Buckingham?

The Evolution of Buckingham

Buckingham by the Numbers: 40+ Years 50+ Properties 10M+ SF

Reinventing Buckingham 1970 “The low grade industrial guys” 2013 Diverse portfolio includes several new mixed-use developments

We Followed the Market Secular Growth Coming in Real Estate

Regional Activity

Albany ALL ABOUT NANOTECHNOLOGY Pictured: 500,000 SF Expansion at Global Foundries

Syracuse RETHINKING RETAIL Destiny USA’s 800,000 SF addition is open with 35% entertainment users

Buffalo ENTERTAINMENT IS BOOMING HARBORcenter development: $123M sports complex with Fall 2014 completion

What’s Going on in Rochester?

The Glass is Filling Up

Office Information provided by CBRE

Industrial Information provided by CBRE

Flex Information provided by CBRE

Retail Information provided by CBRE

What’s new at Buckingham?

We’re Making Lemonade

Midtown Rising Several developers have taken interest

Buckingham/Morgan: 357,000 SF Mixed-Use at The Tower in 2014 Buckingham: Sale/Leaseback of Xerox Tower Additional Midtown Activity: Pike: 67,000 SF to Windstream Summer 2013 Gallina: Purchased One East Ave

Stoney Creek Buckingham ’s new retail development on Long Pond Road in Greece

Bryant & Stratton College Doodle Bugs! Wimpy’s Burger Basket Yolickity Zoom Tan

Alexander Park Buckingham pushing forward with North Campus development

100,000+ SF Office 15,000+ SF Retail 200+ Residential Units Parking Garage

110,000 SF Center Wing Redevelopment

Buckingham relocated corporate office to Alexander Park Green features: Solar panels, reclaimed wood, efficient fixtures “Walking the Walk” with Green Development

Winfield Park Buckingham received Town of Brighton approvals for utility substation

132 Acres for Flex/Office/Residential

American Tire Distributors Buckingham leased a 124,850 SF facility in Chili

Marketplace Land Buckingham looking to purchase land adjacent to Marketplace Mall in Henrietta for combination of flex/office/retail

2600 Elmwood Avenue Buckingham purchased former Bagel Bin at Twelve Corners for a planned food court concept with Bruegger’s and a yogurt retailer

255 N. Union Street Buckingham purchasing 243,000 SF building from Ametek & relocating them to Paul Road Industrial Center

We’re not the only ones seizing opportunities

Gallina will convert 49,700 SF car dealership in East Rochester to Total Sports Experience’s second location (Gates location pictured)

Gallina completed new 36,000 Cambridge Place Office Park in Brighton with another 34,000 SF building planned

Fairmount Properties/Gilbane working on U of R College Town – 500,000 SF includes 100,000 SF Office; 75,000 SF Retail; Hotel & Conference Ctr.

LiDestri Foods purchased 400,000 SF former Kodak facility in Greece & 120 AC for future development.

Morgan purchased former Kmart in Irondequoit for redevelopment

Morgan has 3 new apartment complexes underway in Rochester

Northgate Plaza Walmart in Greece renovated and Morgan put Big Lots in the old Wegmans on Dewey Avenue

I-Square in Irondequoit will be a mixed-use project with seven buildings (Michael and Wendy Nolan)

Konar Properties completed new 38,000 SF Erie Station Business Park in Henrietta with a second building planned

WinnDevelopment purchased the Sibley Building

Gallina/Morrell Commercial working on 12 buildings totaling 400,000 SF at Lehigh Crossing Business Park – 22,500 SF will be delivered to Finger Lakes Technologies this year LeFrois began sitework for the 72,000 SF Calkins Road Business Park in Henrietta

New 350,000 SF Muller Quaker Dairy in Batavia scheduled for completion this year

Wilmorite has several new high end tenants at Eastview Mall: Von Maur; Brooks Brothers; Michael Kors; Manns Jewelers; Vera Bradley

Wilmorite demolished Bon-Ton at The Mall at Greece Ridge to make way for new restaurants & retail: Bar Louie, Red Robin, Chico’s; Loft

Lots of Expansions & Relocations

Rochester Precision Optics completed 43,000 SF expansion in Henrietta

Monro Muffler Brake completed 70,000 SF expansion in Rochester

LeChase is relocating to 60,000 SF old Performance Technologies Building in Greece

East Ave Wegmans will open May 19th