in one of the most impactful office leases signed in Syracuse last year, an integral part of New York's scientific community committed to take a large block of office space.
In late July 2023, The Research Foundation of Upstate New York signed a 10-year lease for 13,342 square feet on the first floor of 5010 Campuswood Dr. in East Syracuse, New York. The deal has earned a 2024 CoStar Impact Award for lease of the year in Syracuse, as judged by real estate professionals familiar with the market.
The Foundation is the largest, most comprehensive university-connected research foundation in the country. It exists to manage the research portfolio for the State University of New York, also known as SUNY, assisting the University's faculty, students and staff through every step of the research grant process, allowing them to focus on their work and ensuring compliance with SUNY, grant sponsor and government requirements.
Mike Barney of Mike Barney Management represented the landlord in the lease negotiations. Jonathan LaSala of Acropolis Realty Group represented the tenant in the deal.
The Research Foundation shares the building with a few other tenants, including Wellcare and Ferrara Fiorenza PC.
About the Project: Pioneer Park at 5010 Campuswood Dr. is a three-story medical office in East Syracuse, New York. The property was built in 1989 and sits on a seven-acre lot with 70,000 rentable square feet. The building also has a surface lot with 850 parking spaces. The office property has been owned by Campuswood Realty since January 2020.
What the Judges Said: Judges called this lease impactful since it took place during a "soft" office market, and it "solidifies the presence of this major foundation" in Syracuse.
They Made It Happen: Mike Barney, owner, Mike Barney Management; Jonathan LaSala, vice president of leasing, Acropolis Realty Group