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Commercial Real Estate

When it comes to commercial real estate lending, banks are open for business

John Cothran, a real estate investor from South Carolina, closed on the purchase of 600 East Ave. this past fall without ever visiting the property. (photo by Kevin Oklobzija).

The coronavirus pandemic has devastated the hospitality industry and exacerbated on some fronts the continuing decline of brick-and-mortar retail, but lenders still have their checkbooks open when it comes to commercial real estate investment. You may not want to propose ...

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Commercial real estate industry fearful of Biden tax plan

A former Rite Aid at the corner of Stone Road and Dewey Avenue in Greece. Many in the commercial real estate sector are concerned the sale of properties like this could be curtailed if a crucial element of President-elect Biden’s tax plan is enacted. (Photo by Kevin Oklobzija)

The tax plan proposed by President-elect Joe Biden could have a major negative impact on the commercial real estate industry. Biden’s proposal includes the elimination of like-kind exchanges, commonly referred to as a 1031 exchange, and would apply to real ...

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Real Estate Insider: Commercial property management takes skill and sensitivity

By TIM REID and TAMMY COX Commercial property management is not for the faint of heart. Good property managers must have several skillsets. They are part construction manager, part accountant, part engineer, part psychiatrist, part interior designer and part landscape ...

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Auction for Executive Building ends in mystery, for now

The online auction for the historic Executive Building at 28-42 W. Main St. closed Thursday afternoon but the result was not immediately announced. A notice on the website at Auction.com noted only: “This property is in escrow. Once escrow has ...

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Executive Building to be sold in online auction

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A historic downtown office building with a storied past will be offered for auction online this week at a starting bid of $1.6 million. Auction.com set the asking price for the Executive Building at the heart of the Four Corners ...

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New York to auction Rochester office building

A six-story brick office building in Rochester will be auctioned by the state in December. The state Office of General Services is selling 305 Andrews Street, a 39,600-square-foot brick office building with a full basement.  With wireless networking, an attached 50- ...

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REAL ESTATE BRIEFS: Plans for selling Seneca Army Depot

The Seneca County Industrial Development Agency will host a public information meeting next month to discuss the immediate future of the former Seneca Army Depot. The meeting will begin at 10 a.m. on Saturday, Nov. 7, at Romulus Fire Hall, ...

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Midtown Tower280 lines up first tenant

The first official retail tenant for Tower280 at Midtown will be Branca Italian Restaurant, opening its second location on the northwestern corner of the tower, occupying approximately 4,500 square feet. The announcement was made Monday by developers Buckingham Properties and ...

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St. John Fisher celebrates new building

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St. John Fisher College recently celebrated the opening of its new Integrated Science and Health Sciences building with a ribbon-cutting ceremony. The 31,000 square foot academic facility includes two 100-seat classrooms, teaching laboratories, a lab prep room, faculty offices, and ...

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RG&E supporting Midtown development

Officials from Midtown Tower LLC Tuesday received a ceremonial big check from Rochester Gas & Electric. The $500,000 grant will support electric infrastructure improvements made during the $59 million renovation of the 17-floor, 408,904-square-foot Tower at Midtown, 280 E. Broad ...

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Rochester-based company receives federal $ for battery development

NOHMs Technologies Inc. is the recipient of a $1.64 million federal-private contract that will speed development of advance electric vehicle batteries and improve performance, affordability, and safety. NOHMs, with support from the US Department of Energy and the US Advanced ...

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