Located at 439 S. Main St. at the corner of Main and University in the Downtown area, the two-story property, built in 1977, is anchored by a Starbucks and Republic Bank on the ground level.
According to Mason L. Capitani, with Troy, MI-based L. Mason Capitani Inc., the building had been listed both for lease and for sale, with an additional 5,000 sf on the second floor for lease.
"As a sale, this was listed only a couple of months, and we got the one offer," says Capitani who, with Gary P. Grochowski, brokered the transaction for the buyer, FLS Properties, LLC of Troy and the seller, S. Norton Investments of Rochester.
L. Mason Capitani will also handle the leasing for the remaining space in the property, which is office space. Capitani tells GlobeSt.com that the location is quoted at $18 per sf, triple net. "We've had some interested parties in that space," he says.
Though the property was constructed close to 30 years ago, upgrade renovations have taken place throughout the years. "As recently as five years ago, they renovated the façade of the building, when they put the Starbucks in at the corner," Capitani says.
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