O wners , D evelopers & M anagers
Real Estate Journal — Section B
www.marejournal.com M id A tlantic
uffalo, NY — The LiRo Group (LiRo) , serving as construc- Designed and built using sustainable materials and methods LiRo, Gilbane, HOK, &LPCiminelli complete 628,000 s/f healthcare, education, and research structure B
first project to receive fund- ing through the NYSUNY 2020 Challenge Grant Pro- gram, an initiative to spur economic growth through- out New York while simul- taneously strengthening the academic programs of its public universities and colleges, to elevate SUNY as a catalyst for regional economic development and affordable education. UB received $35 million in 2011 for the new building, admin- istered through the Empire State Development Corpora- tion and SUCF. The grant terms required the project to be built on an accelerated schedule to meet the require- ments of the 2020 Challenge Program. As part of their construc- tion management services, LiRo oversaw the renovation of the NFTA station, which is connected to the Jacobs School building via escala- tors and an internal, second- floor pedestrian walkway extending from the station at
Allen Street to High Street. Commuters traveling on to other buildings will soon be able to continue from this point through a proposed bridge connection across High Street to the Conventus Medical Building, which, in turn, is connected by already existing bridges to other hos- pitals and research centers in the BNMC. The interior pedestrian path supports the connection among buildings and their occupants. The Jacobs School of Medi- cine and Biomedical Sci- ences’ project team also in- cluded structural engineer Ysrael A. Seinuk, P.C. ; civil engineer Foit-Albert Asso- ciates ; and MEP engineer Vanderweil Engineers . In addition, the Jacobs Consultancy served as the laboratory-planning consul- tant, Cline Bettridge Ber- nstein Lighting Design served as lighting designer, and the commissioning agent was Facility Dynamics Engineering . revitalization. This includes significant adaptive reuse of obsolete industrial properties into thriving residential and retail product.” Within this context, Cooke Mills is a three story, eleva- tored building with surface and below-grade parking. Its 14 two- and three-bedroom units are part of a larger, 20-unit project constructed in 2007. Cooke Mills has been at or near 100 percent occupancy since the seller acquired it in 2012. The brick and decora- tive brownstone-faced building incorporates the façade and a lower-level portion of a his- toric, c. 1880 mill building and features 14-foot ceilings and oversized windows. Individual units include stainless steel appliances, granite counter- tops, bathrooms with marble finishes, hardwood floors, and in-unit washer/dryers.
HI-LIGHTS M ay 25 - J une 7, 2018 tion manager in a joint ven- ture with Gilbane Building Company , architect HOK , and general contractor LP- Ciminelli have completed the new, ultra-modern build- ing for the Jacobs School of Medicine and Biomedical Sciences at the University at Buffalo (UB), for the State University Construction Fund (SUCF). At 628,000 s/f, it is the largest recently constructed medical educa- tion building in the United
The LiRo Group served as construction manager for the new $375 million, 628,000 s/f, state-of-the-art Jacobs School of Medicine and Biomedical Sciences at the University at Buffalo in Buffalo, New York. Photo by Douglas Levere
States, and the largest new building to have been erected in downtown Buffalo in de- cades. The eight-story struc- ture was designed and built using sustainable materials and methods, with the goal of obtaining LEED Gold cer- tification. According to Luis Tor- menta, PE , LiRo’s CEO and vice chairman, “LiRo is
proud to have overseen the construction of this world- class, $375 million hub for life science, technological innovation, and learning. We have delivered to the University at Buffalo an ul- tramodern facility that will serve its students, faculty, researchers, and the commu- nity for a long time to come.” The Jacobs School was the
GPFM Expo
Colliers International NJ arranges sale of CookeMills Apartment property in Paterson
9-20B
Tornetta Realty and Altman Management hold ground breaking for the Residences At Bentwood
Paterson, NJ — In one of Paterson’s highest per-unit- price multifamily sales to date, Colliers International NJ LLC has arranged the trade of Cooke Mills, 19 Market St. in Paterson. The Great Falls His- toric District rental property drew more than three dozen tours and 18 qualified bidders – and closed within 75 days of being presented to the market. A private regional investor purchased the 14-unit apart- ment property from a repeat Colliers client for $1.9 mil- lion – or $135,750 per unit. Jacklene Chesler, Patrick Norris, MatthewBrown and Angelo Vitale based in the global commercial real estate services firm’s Parsippany of- fice, headed the assignment. The team marketed the prop- erty in conjunction with Ten-X , an online transaction platform for commercial real estate, also
Environmental/ Green Buildings 23-24B 6B
Cooke Mills
leveraging Colliers’ proprietary investor database. This hybrid approach resulted in the ex- ecution of 272 confidentiality agreements. “Strong demand, low va- cancies and favorable demo- graphics are contributing to the ongoing popularity of New Jersey multifamily within the
commercial investment com- munity,” Chesler said. “The level of interest in Cooke Mills and the property’s ultimate per-unit sale price attest to the continuation of that trend. This transaction also speaks to growing interest and progress in the City of Paterson, which is making great strides toward
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