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Month: December 2019

Dec 2019

Washington County supervisors OK shared services plan to save thousands

FORT EDWARD — The Washington County Shared Services Panel voted on Friday in favor of adopting the county’s Shared Services Plan. “All 13 supervisors in attendance voted in favor of the plan,” said Administrator Chris DeBolt on Friday afternoon. “The plan will be submitted to the state later today.” According to DeBolt, Gov. Andrew Cuomo’s …

Dec 2019

Political earthquakes shaped commercial real estate in 2019, and aftershocks will continue in 2020

What stood out most for Chicago’s commercial real estate industry in 2019 was not downtown’s robust office market, the continuing strength of multifamily properties or the seemingly unstoppable rise of the distribution and logistics sector — all long-term trends — but the political earthquakes that struck the region. A wave of populist anger swept out of office a …

Dec 2019

Citigroup completes purchase of CrossPoint building from Unliand

Citigroup has completed its  purchase of one of its two office buildings at the CrossPoint Business Park in Getzville, cementing its presence in Western New York with a $52.8 million investment. The New York City-based banking company – the nation’s third-largest – acquired 580 and 562 CrossPoint Parkway from affiliates of Uniland Development Co. The …

Dec 2019

Seneca One developer Douglas Jemal buys historic former firehouse

Washington developer Douglas Jemal hasn’t had to put out too many fires in dealing with his renovation of Seneca One Tower. But just in case, he now owns a firehouse. Jemal on Tuesday bought the historic former Hook & Ladder No. 8 building at 174 Chicago St., paying $325,000 for the two-and-a-half-story brick building, located …

Dec 2019

Real estate investment trust pays $45M for two suburban medical properties

Being involved in medicine pays – and not just for the doctors. A Milwaukee-based real estate investment trust that focuses on health care properties has acquired a pair of medical office buildings in Orchard Park and Cheektowaga from a competitor, for $45 million. Physicians Realty Trust – known informally as “DocREIT” – paid $36 million …

Dec 2019

Bank of Akron to merge with Bank on Buffalo

Bank on Buffalo and the Bank of Akron are merging. The $64.5 million deal, announced late Wednesday afternoon, will combine two small Buffalo Niagara banks and create a combined institution that has almost double the market share of each of the two individual banks within Erie County. The merger will combine Bank of Akron, which …

Dec 2019

Tax breaks OK’d for apartments at historic Smith Restaurant supply building

Syracuse, N.Y. — The Syracuse Industrial Development Agency today approved nearly $1.2 million in tax breaks for the redevelopment of the historic Smith Restaurant Supply property into 37 apartments. The agency voted 5-0 to grant $684,911 in property tax exemptions over 15 years, as well as $440,000 in exemptions from sales taxes on construction materials …

Dec 2019

‘Every little bit helps’: Minimum wage to rise in 24 states as a movement toward $15 an hour builds

Several years ago, a $15-an-hour minimum wage was the pipe dream of a national coalition of striking fast-food workers. Now, it’s increasingly becoming a reality across the country, with significant gains expected in 2020. The number of cities and counties with at least a $15 pay floor is set to double next year to 32, …

Dec 2019

Another Lawsuit for ShoppingTown Mall? DeWitt, J-D School District Could Hire Lawyers

Another lawsuit could be coming for the owners of ShoppingTown Mall. Moonbeam Capital Investments LLC is in a legal battle over back taxes with Onondaga County. The Town of DeWitt and the Jamesville-DeWitt school board are going to work together to hire a lawyer to fight Moonbeam. The DeWitt board voted 6 to 1 to …

Dec 2019

Planning Board OKs plan for apartments, art studios at Silo City

Generation Development Group received the green light from the Buffalo Planning Board Monday to convert a former malthouse at Silo City into 158 apartments and nearly 40,000 square feet of ground-floor commercial space. The $70 million project by the Miami-based firm – in conjunction with Silo City owner Rick Smith – calls for renovating the …

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