The Court Exchange Building located at 144 Exchange Boulevard was acquired by OakGrove Development and it's partners in 2022.
Why we like the deal:
This was an opportunistic purchase. Because this building was mostly comprised of office tenants, the investment community redlined it due to Covid office concerns. With its stable mix of long term government tenants, we purchased this building with no deferred maintenance, in a great location in the path of progress at a very attractive price. Our business plan is to lease up the 10% of vacancy, increase the value considerably, refinance and return our investors capital.
Formerly the home of the National Casket Company, it was added onto and renovated for office use. With it's close proximity to the Monroe county court system, local, state, and federal government offices, it has become an ideal location for government agencies, non profits, and legal professionals!
It's also ideally located adjacent to the historic Corn Hill neighborhood, and sits facing the mighty Genesee river and the ROC The Riverway Project, which will create $2.8 billion of economic impact!
More info here:
https://www.visitrochester.com/blog/post/roc-the-riverway/
One of the buildings iconic features is its light filled atrium and arboretum, a common area amenity that your team will enjoy collaborating in and relaxing in on a lunch or coffee break!
Plus there is plenty of off street parking for you and your whole company! Conveniently located right next to the building!
We have spaces of all shapes and sizes available so if you want to be downtown and part of all the exciting things we have going on in our city center, we have the perfect space for you!
Why we like the deal:
This was an opportunistic purchase. Because this building was mostly comprised of office tenants, the investment community redlined it due to Covid office concerns. With its stable mix of long term government tenants, we purchased this building with no deferred maintenance, in a great location in the path of progress at a very attractive price. Our business plan is to lease up the 10% of vacancy, increase the value considerably, refinance and return our investors capital.
Formerly the home of the National Casket Company, it was added onto and renovated for office use. With it's close proximity to the Monroe county court system, local, state, and federal government offices, it has become an ideal location for government agencies, non profits, and legal professionals!
It's also ideally located adjacent to the historic Corn Hill neighborhood, and sits facing the mighty Genesee river and the ROC The Riverway Project, which will create $2.8 billion of economic impact!
More info here:
https://www.visitrochester.com/blog/post/roc-the-riverway/
One of the buildings iconic features is its light filled atrium and arboretum, a common area amenity that your team will enjoy collaborating in and relaxing in on a lunch or coffee break!
Plus there is plenty of off street parking for you and your whole company! Conveniently located right next to the building!
We have spaces of all shapes and sizes available so if you want to be downtown and part of all the exciting things we have going on in our city center, we have the perfect space for you!