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

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

Feb 08, 2023 356 likes •903 views

WNY Real Estate Market Larry Glazer, CEO Buckingham Properties Agenda The Evolution of Buckingham Regional Activity Whats Going on in Rochester? Whats New at Buckingham? The Evolution of Buckingham Buckingham by the Numbers: 40+

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WNY Real Estate Market

Larry Glazer, CEO Buckingham Properties

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Agenda

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

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The Evolution

  • f Buckingham
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Buckingham by the Numbers:

40+ Years 50+ Properties 10M+ SF

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Reinventing Buckingham

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

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We Followed the Market

Secular Growth Coming in Real Estate

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Regional Activity

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Albany

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

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Syracuse

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

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Buffalo

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

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What’s Going

  • n in

Rochester?

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The Glass is Filling Up

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Office

Information provided by CBRE

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Industrial

Information provided by CBRE

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Flex

Information provided by CBRE

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Retail

Information provided by CBRE

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What’s new at Buckingham?

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We’re Making Lemonade

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Midtown Rising

Several developers have taken interest

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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

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Stoney Creek

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

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

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Alexander Park

Buckingham pushing forward with North Campus development

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

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110,000 SF Center Wing Redevelopment

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

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Winfield Park

Buckingham received Town of Brighton approvals for utility substation

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132 Acres for Flex/Office/Residential

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American Tire Distributors

Buckingham leased a 124,850 SF facility in Chili

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Marketplace Land

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

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2600 Elmwood Avenue

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

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255 N. Union Street

Buckingham purchasing 243,000 SF building from Ametek & relocating them to Paul Road Industrial Center

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We’re not the

  • nly ones

seizing

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

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

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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.

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

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Morgan purchased former Kmart in Irondequoit for redevelopment

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Morgan has 3 new apartment complexes underway in Rochester

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

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

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

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WinnDevelopment purchased the Sibley Building

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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

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

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

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

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Lots of Expansions & Relocations

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Rochester Precision Optics completed 43,000 SF expansion in Henrietta

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Monro Muffler Brake completed 70,000 SF expansion in Rochester

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

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East Ave Wegmans will open May 19th

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