By: Kevin Oklobzija , Test Byline//June 30, 2023
By: Kevin Oklobzija , Test Byline//June 30, 2023//
The Florida-based developer of the new Tesla service, education and display center in Henrietta has sold the property to a California real estate investment firm.
Rochester Motors NY LLC, a subsidiary of the Truett Realty Group of Delray Beach, Fla., sold the property and the newly built facility at 3535 West Henrietta Rd. for $9,318,180 to Realty Income Properties 9, LLC of San Diego.
The sale comes just over 14 months after Rochester Motors NY LLC paid $3.5 million for the property, which had been home to the now-defunct York Furniture Gallery.
Taylor, The Builders of East Rochester repurposed what was a 50,000-square-foot building for Truett Realty Group. The new Tesla facility occupies approximately 30,000 square feet. The other 20,000 square feet of the old building was demolished to make room for the façade and parking.
Tesla will operate the education center as a tenant of Realty Income Properties. Car sales are not allowed because, under current New York State law, auto manufacturers must sell vehicles through third-party dealerships.
But the electric-vehicle automaker in the future could request permission from the town of Henrietta to create a dealership, should lobbying efforts to change state law be successful.
Realty Income Properties owns more than 12,400 commercial properties across the United States, the United Kingdom, Spain and Italy, with clients from 84 different industries, including Lowe’s, 7-Eleven and Chipotle.
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