Zamir Equities Acquires Syracuse Office Asset
- May 18, 2017
Zamir Equities acquired One Lincoln Center in Syracuse, New York’s central business district.
Located at 110 West Fayette St., the 305,594-square-foot Class A office building was originally built in 1970 and recently underwent a $10 million renovation. Upgrades included a new lobby, common area updates, a fitness center, state-of-the-art conference center, elevator modernization, roof replacement, upgrades to the HVAC/mechanical systems, sidewalks, facade and restrooms. Additional amenities include an outdoor putting green, a ground-floor eatery called Darwin’s, and an onsite newsstand and convenience store. Tenants include Bond, Schoeneck & King Law Firm, Arcadis, Bousquet & Holstein Law Firm, Grossman-St. Armour CPA’s, CadaretGrant and JP Morgan Chase.
The property is one of the tallest buildings in Syracuse and is adjacent to the proposed $3 million-renovated Perseverance Park, as well as blocks away from the Museum of Science and Technology, Syracuse University, Hancock International Airport, the Federal Building, County Courthouse, Civic and Convention Center and Armory Square.
“This is our first commercial real estate investment in Syracuse, and we are pleased to become an active part of Syracuse’s CBD renaissance,” said Asher Zamir, founder & chairman of Zamir Equities, in prepared remarks. “As part of New York Governor Andrew Cuomo’s $1.5-billion New York Upstate Revitalization Initiative, One Lincoln Center will also benefit from the $265 million investment in Syracuse’s CBD. Coupled with the 30 percent growth in downtown Syracuse’s millennial population and a shrinking CBD office stock, we believe our One Lincoln Center acquisition will prove to be sound and worthwhile.”
Image courtesy of Syracuse.com