August 11, 2016 – Jeremy Black of Horvath & Tremblay has successfully brokered the sale of a free standing M&T Bank located in Syracuse, NY. Horvath & Tremblay represented the seller and procured the buyer to close the sale at a price of $675,000. The broker of record for the transaction was LLD Enterprises, LLC.
M&T Bank fully occupies the 2,500-square foot building located at 3640 James Street in Syracuse, New York. This is a well-established M&T Bank branch location as they have operated at this site since 1977. M&T Bank has demonstrated commitment to this location executing a lease extension through November of 2017 which includes one additional (5) year renewal option. The property benefits from its highly visible location with direct street frontage along James Street in the Eastwood neighborhood of Syracuse. This densely populated area boasts a population base of over 191,000 within a five-mile radius. Located in close proximity to M&T Bank are national tenants including: Friendly’s, Wegmans, Walgreens, Wendy’s, Dollar General, Papa John’s and Dunkin’ Donuts. M&T Bank Corporation had $123 billion in assets as of December 31, 2015 and is one of the 20 largest commercial bank holding companies in the U.S.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.