SYRACUSE, N.Y., June 16, 2020 (GLOBE NEWSWIRE) -- One Park Place is one of the largest office buildings in downtown Syracuse – however, it wasn’t always a towering success.
In May 2017, the 10-story 296,816 square-foot building located at 300 S. State Street was acquired by Zamir Equities. At the time, the property was in receivership and was deferred maintenance for several years.
That same month, Zamir Equities purchased the neighboring 18-story 304,506 square-foot One Lincoln Center located at 110 W. Fayette Street. Zamir Equities founder, Asher Zamir, described this as an investment strategy that created “synergies,” with one management company overseeing operations for both office buildings.
Since acquisition, both One Park Place and One Lincoln Center have experienced continuous growth.
Zamir has invested $6 million in upgrades to One Park Place, including a full modernizing renovation of the main lobby that includes security service, state-of-the art elevator modernization with destination dispatch, a common conference center, new restaurant renovations, and the Garden Level lounge for employees to enjoy.
Some longstanding tenants of the building include, Internal Revenue Services, Social Security Administration, The Hartford Fire Insurance, and Disability Management Services, Inc.
One Park Place has also recently welcomed several new tenants of note, including NYS Attorney General’s Office, Robert Half, William Mattar, P.C.; The Colewell Law Group, LLC; Team Green Lawyers, PLLC; Regional Donut Authority Café, LLC; and insurance agency Haylor, Freyer, & Coon.
In addition, One Lincoln Center has had its share of recent renovations, with upgrades to its lobby, common areas, elevator system, restrooms, façade, and HVAC/mechanical systems. This property houses amenities including a 24/7 front lobby desk security service, a fitness center, a common conference center, an ATM, a branch of Chase Bank, and Darwin on Clinton Restaurant.
The continuous development of One Lincoln Center includes the renewal and expansion of several tenants, including Windstream Business Holdings, LLC; M.S. Hall & Associates, LLC; and Bousquet Holstein, PLLC. The building is also pleased to welcome multiple new tenants including William J. Leberman and Edward J. Fintel; Sarofeen & Arbon, PLLC; Citizen's Bank, NA; and Near East Foundation.
Reflecting on the revitalization, Zamir commented, “We’re delighted to be a driving force in the growth of Syracuse CBD. These properties have been our first acquisition in Syracuse and we’re excited to see how the Central Business District will continue to develop in the new decade.”
According to Zamir Equities Property Manager, Jenni Sullivan, “In the past 10 years, Syracuse has transitioned into a city where people want to live, work, and play. It’s become a very welcoming community that provides great opportunities to young entrepreneurs. We’re even seeing businesses relocate back downtown. Our two commercial buildings located in the heart of the city have completed renovations during the city’s rebirth and are part of this story of tremendous impact. We’re looking forward to continuing our deepening relationship with the city and its community.”
About Zamir Equities
Zamir Equities is a New York City-based, integrated real estate private equity firm. Founded in 2003 by Asher Zamir. Since inception, Zamir Equities has executed more than $1 billion in commercial real estate transactions and managed over 6 million square feet in commercial and residential properties mostly along the east coast. Recognized for astute acquisition proficiency, along with unparalleled real estate management, leasing and marketing experience, specializing in risk-adjusted market returns for both undervalued and stabilized real estate assets. Zamir Equities currently owns and manages in excess of 3.6 million square feet of commercial properties in the state of New York, New Jersey, Pennsylvania, Maryland, Texas, Atlanta and Ohio.
Media Contact
Zamir Equities
Moshe Shalom
212-277-6477 X 804
media@zamirequities.com
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