An Alco Manufacturing lease in Rochester, New York, shows the potential for industrial demand in the region.
Alco, a supplier of precision machined components and fittings in various metals including steel, brass and aluminum, last year signed a 15-year lease at 595 Trabold Road, an 80,000-square-foot property completed in 1980.
The deal has been selected by a panel of local real estate industry professionals as the winner of the 2024 CoStar Impact Award for lease of the year for Rochester.
Ohio-based Alco, represented in the deal by Tom Latta of Buckingham Properties, already has a presence in Rochester and is expected to consolidate operations.
The building, about 8 miles west of downtown Rochester, recently underwent energy efficiency upgrades.
About the Deal: This property was on the market for over a year, and Alco’s lease is expected to keep about 100 jobs in the area.
What the Judges Said: “Good reuse of a large industrial property” and a “significant lease in the region.”
They Made it Happen: Adam Borrell, senior leasing executive, Buckingham Properties; Tom Latta, vice president of leasing and tenant relations, Buckingham Properties.