This week we were excited to release our first edition of The Galesi Group Newsletter. The purpose of our newsletter is to give a snapshot of the month’s featured properties. With over 10 million square feet of industrial and commercial space, we are constantly offering new leasing opportunities and we want to make sure that our subscribers are the first to know.

To subscribe to the Galesi Group’s monthly newsletter:

 http://visitor.r20.constantcontact.com/d.jsp?llr=o8uhwxlab&p=oi&m=1112117859182

Live in the center of it all at Market Center in downtown Saratoga Springs.  Onsite Price Chopper Limited, a full- service grocery store, Feigenbaum Dry Cleaners, SPoT Coffee Cafe' and coming Summer 2013, Bow Tie Cinemas! For more information on the one, two and three bedroom units available, check out: http://www.marketcentersaratoga.com/

Schenectady, N.Y., February 12, 2013 -- The Schenectady County Metroplex Development Authority today announced that Captech Logistics will locate its third party logistics (3PL) facility in Rotterdam by leasing 43,000 square feet in Building 14 at the Rotterdam Corporate Park.

Captech Logistics will offer customized contract warehousing, web-based inventory management and distribution services at the Rotterdam location.

"Our goal is to allow our customers to focus on their core competencies while greatly reducing or eliminating their capital expenditures associated with the equipment, facilities and resources related to their warehousing and distribution services, " said Allen Kintz, co-founder of Captech Logistics.

Building 14 is a 260,000 square foot warehouse building that is located at the 200 acre, 4.5 million square foot Rotterdam Corporate Park, the largest business park in the Capital Region. The Rotterdam Corporate Park is owned by the Galesi Group, the largest commercial real estate developer in the Capital Region.

“We are excited about selecting Rotterdam and Schenectady County for our new logistics center. The County’s economic development team worked with us every step of the way and the location where Route 7, I-88 and I-90 meet is outstanding,” said Dan Finkle, co-founder of Captech Logistics.

“We welcome Captech Logistics to Schenectady County,” said Judy Dagostino, Chairwoman of the Schenectady County Legislature. “This is another great addition to the Rotterdam Corporate Park which has been a catalyst for growing and attracting businesses to Rotterdam and Schenectady County.”

Rotterdam Town Supervisor Harry Buffardi said, “Rotterdam continues to work closely with the County’s economic development team to attract new businesses. We appreciate the fact that Captech Logistics selected Rotterdam over many competing sites in the Capital Region.”

Dan Finkle was formerly President of Finkle Distributors. Before it was sold to CoreMark International in 2010, the company had $350 million in sales and 300 employees including an 180,000 square foot distribution facility in Johnstown, NY.

Allen Kintz was the Vice President of Kintz Plastics Inc. for 15 years, a major plastics manufacturer located in Howes Cave, NY.

Together, the two partners have extensive experience with distribution and logistics functions in a Lean Manufacturing environment. The company expects to employ 25 in Rotterdam within four years.

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Schenectady Metroplex Development Authority. Captech Logistics Selects Schenectady County for 43,000 Square Foot 3PL Facility. Schenectady: n.p., 2013. Print.

Before the New Year is upon us I would like to announce the last of 2012’s featured properties located at the Northeastern Industrial Park, Guilderland Center (Albany County).

Northeastern Industrial Park: Acreage

Rail sided sites ranging from .5 to 150 acres are available for ground storage or as development parcels. Sites are paved or compacted gravel and equipped with utilities; adjacent warehouse space is also available for lease. All land is zoned Industrial and the Park is pre-permitted for development of up to 1,000,000 square feet.

Northeastern Industrial Park: Building 10, Bays 4 and 5

Formerly a distribution center for a Fortune 100 company, Building 10, Bays 4 and 5 offers up to 86,000 square feet of warehouse space with up to 7,000 square feet of office space. Features include 22’ ceiling heights, 12 Docks Doors and 2 Drive In Doors. The space can be subdivided to 20,000 square or expanded to 206,000 SF. The lease rate for this facility is $3.95/square foot, NNN and the triple net charges are $0.80/square foot.

The Northeastern Industrial Park strategically located between Exits 24 and 25 of the New York State Thruway, and in the heart of New York’s Capital Region. The Park is situated on 586 acres and consists of 29 buildings totaling 3 million square feet of warehouse and manufacturing space. Rail service to the Park is provided by CSX, Norfolk Southern, and Canadian Pacific. Rail traffic within the Park is controlled by SMS Rail Lines.

On behalf of the Galesi Group, I hope that you have a Happy and Successful New Year!

 On behalf of  The Galesi Group,

We wish you a Happy Holiday and All the Best in 2013!

Center City, 433 State Street, Schenectady

Shapiro, Neil R. 2012. Photograph. Schenectady.

“Thanksgiving is a day for family and friends to join together and reflect on all that we have to be grateful for” said Chief Operating Officer, David Buicko at the Galesi Group’s Annual Thanksgiving Luncheon on Tuesday.

The theme of the luncheon was appropriate in light of the recent passing of our cherished co-worker, Judy St. Gelais, who passed away suddenly earlier this week. For all of us who worked with Judy, she was a woman ready to help and you could always rely on to get a task done. Every time you passed her in the hallway, not once did she pass without a smile or a cheerful good morning. She will truly be missed here at the Galesi Group.

Following a moment of silence, Dave continued to give thanks and acknowledge not only our accomplishments but future to come at the Galesi Group.

The Galesi Group’s 4th quarter recap includes:

Industrial Parks

• Rotterdam Corporate Park: Galesi is preparing for future growth and development at the Park through the demolition of Buildings 9 and 10. Built in 1918, these two World War I buildings were functionally obsolete and remained vacant for many years contributing to vast deterioration of the structure. Demolition should be complete in early December, opening up the opportunity for 500,000 square feet of new development.

• Island Park: Together with BBL Construction, Galesi is making progress on the construction of a 64,000-square-foot "spec" warehouse facility. Located at 85 Cohoes Ave, this vanilla shell building is now available for lease and will be build-to-suit tenant’s needs.

New Leasing/Development

Schenectady County

• Schenectady County Community College is expanding its downtown campus in Center City. In Fall 2011, when the college first moved into Center City there were 1,600 students enrolled and by Spring 2012 enrollment reached up to 2,200 students. Due to current space restrictions, the school is expanding on the 2nd floor at Center City in order to prepare for future growth and the college’s expanding programs.

• Construction is near completion for the Mallozzi Group’s new Italian restaurant, Johnny’s. Directly across from Proctor’s Theater, the first floor restaurant will feature outdoor dining on the patio and porch area of Center City.

Saratoga County

• In partnership with Columbia Development, Ellis Medicine’s new 38,000 square foot medical facility is now open for business. Located in Clifton Park, this standalone 24/7 urgent care center is the first of its kind in the Capital District and includes all of the services that come with an emergency department.

• Feigenbaum Cleaners recently opened its doors at Market Center providing dry cleaning and laundry services. SPoT Coffee, a chain of progressive continental-style cafes, will open their 10th café at Market Center in December. Residents at Market Center will soon be able to workout, grab a coffee, grocery shop and pick up and drop off dry cleaning without ever leaving the building. Limited one, two and three bedroom apartments are still available! See: www.marketcentersaratoga.com

• Phase II of the Market Center redevelopment project has been unveiled for the corner of Railroad Place and Division Street. The former site of the Price Chopper will be replaced with an $18 million mixed-use building co-developed with Bonacio Construction Inc. The first floor of the building will feature an 11-screen movie theater with 24,000 square feet of commercial and office space on the second and third floors.

Albany County

• Earlier this month the demolition of the former Starlite Theater began. For many years, the Starlite Theater was an iconic place in the Capital Region. Although the arena went through many names, (the Colonie Musical Theater, Colonie Summer Theater, Colonie Coliseum and finally Starlite Music Theater), it was synonymous for being known as the area’s key performance halls. The 3,000 seat “theater-in-the-round” once set the stage for show biz’s best known singers, musicians, comedians and even heavyweight boxers. Hosting legends such as: Johnny Cash, Bob Hope, Sammy Davis Jr., Wayne Newton, Diana Ross, Mike Tyson. Productions declined during the 1970s and after a long struggle, the Starlite was abandoned in 1998.

            Future development plans for the site include retail, office, and residential.

Brownfield Redevelopment

• Site work is underway at the Former ALCO site as Galesi proceeds forward with Master Plan.

Distribution Unlimited

• Distribution Unlimited continues to pick up additional business, particularly at the Northeastern Industrial Park. Given the increasing costs for fuel and our superior access to rail (three Class I rail lines, CSX, Canadian Pacific and Norfolk Southern, serve the Park), we are experiencing a lot more rail business at the Park.

Retirement

• After 29 years of dedicated service to the Galesi Group, Susan Jenkins will be retiring. Susan has always been there to assist us, answer questions and follow through with getting the job done accurately, all while offering a smile and an ear. In November of 1983, Susan began working in the word processing department before later taking on the position of Payroll Manager. As she takes on the next step in her life, we wish her the best of luck!

Recent Hire

• Galesi Group recently hired Laura Polec to the position of Payroll Administrator.

On Thursday, September 6th the Capital Region's largest commercial real estate developer and largest construction firm broke ground at their latest development, 85 Cohoes Ave located in Green Island.

In 2001 Green Island Properties, LLC, a joint venture between the Galesi Group and BBL Construction Services, purchased the 52 acre, former Ford Motor Plant and built a 64,000 square foot facility at 60 Cohoes Ave. Due to the high demand for Class A industrial space, the space was tenanted before the buildings completion and shortly thereafter the building was expanded to 88,000 square feet to meet the increasing need for flex space in the Capital Region. Given the success at 60 Cohoes Ave, the team decided to expand development and built four additional buildings, converting the site into Island Park.

Today Island Park consists of 5 buildings totaling 660,000 square feet of warehouse and manufacturing space and is 100% occupied.

In order to accommodate future growth in Green Island, The Galesi Group and BBL Construction have joined together once again to build a 64,000-square-foot "spec" warehouse facility. Construction began of the $5.3 million facility in late August and is scheduled to be complete by January 2013.

For additional leasing information, please visit: 85 Cohoes Ave, Green Island

To learn more about this leasing opportunity, please contact Paul Fallati at 518-465-1565.

85 Cohoes Ave - Development Site

Rendering of future 64,000 square foot 'flex' building

Green Island Mayor Ellen McNulty-Ryan speaks on the new development in the community.	Mayor Ellen McNulty-Ryan, Albany County Executive Dan McCoy, Village and Town officials and representatives from Galesi Group and BBL Construction were on site for the celebration.
The official breaking of the ground	Gold shovels in place honoring the "three guys with vision", Donald Led Duke, President of BBL, Jack McNulty, then Green Island Mayor, and Tony DeLorenzo, Galesi's Senior Vice President.

Mayor McNulty welcomes the construction trucks back to Green Island

Be the first resident of The Metropolitan Lofts, a Galesi Group development

The Galesi Group is proud to announce that construction is complete at The Metropolitan Lofts located at 409 State Street!

Originally constructed in 1920's, this historic building has been transformed into seven brand new one and two bedroom contemporary apartments.

Living Room with 18' Ceiling Heights	State of the Art Kitchen with Stainless Steel Appliances, Cherry Cabinets and Granite Countertops
Apartment Entry	1st Floor Bedroom with Exposed Brick
In Unit Washer and Dryer	1st Floor Bathroom
Stairs to 2nd Bedroom	Upstairs Den Overlooking Kitchen and Living Room
2nd Floor Bedroom	Bedroom into Bathroom and Closet
2nd Floor Bathroom	Walk In Closet

Located in the heart of Downtown, great entertainment, restaurants, banks, and boutiques are waiting just outside your front door. Live in luxury and enjoy the best downtown has to offer at The Metropolitan Lofts.

For more information or to schedule an apartment viewing, call 518-356-4445 or e-mail bspraragen@galesi.com.

Live in luxury and enjoy the best downtown has to offer with great entertainment, restaurants, and boutiques waiting just outside your front door.

The Galesi Group is making progress well at the Metropolitan Lofts located in Downtown Schenectady.  Currently under development, these one and two bedroom contemporary loft apartments will be available August 2012. All seven apartments are uniquely designed with different attributes including exposed brick walls and ceiling beams, oversized windows and ceiling heights up to 18’.

Each unit features:

- State of the Art Kitchen with Stainless Steel Appliances (Oven, Dishwasher, Refrigerator, Microwave, Garbage Disposal), Granite Countertops, and Built-in Cherry Cabinets

-Ceramic Tile Bathroom with Shower/Tub and Vanity Sink.

- Large Capacity Washer/Dryer

- Oversized Closets

- Central Air Conditioning

- Cable Ready

- Convenient parking

- 24/7 Maintenance

State of the Art Kitchen	Bedroom in 2nd Floor Loft
Upstairs Den Overlooking Kitchen and Living Room	Living Room in Unit #1
Bathroom	Walk In Closet

In an effort to assist local businesses affected by Hurricane Irene, the Galesi Group is offering short term warehouse provisions to local businesses for their temporary real estate and warehousing needs.

During this disaster recovery period, the Galesi Group has agreed to waive all minimum size and lease term requirements. Available warehouse and office space is located in Albany and Schenectady Counties.

In addition Galesi’s third-party logistics company, Distribution Unlimited, will provide public warehousing to affected businesses in order to minimize supply chain disruptions.

Please call the Galesi Group’s Real Estate division at 518-356-4445 for immediate assistance with these services.

Introducing the Galesi Group’s Featured Property of the Month
Building 2 in the Northeastern Industrial Park, Guilderland (Albany County), New York

Currently a food-grade Freezer Distribution Facility, Building 2 offers up to 100,800 square feet of freezer/cooler space with an adjacent 43,200 sf bay of dry, non-temperature controlled space. Building 2 is sub dividable in increments of 50,400 sf and includes amenities such as:

• 24 – 10’ x 10’ Refrigerated Loading Docks (12 rail loading, 12 truck loading),
• Modern Refrigeration Equipment with Computer Efficiency Controls
• Temperatures Range from -10°F to 45°F
• Up to 6,000 Pallet Positions with Racking Included
• Drive-In Capability
• Available Paved Acreage for Outside Storage

To read more about this real estate leasing opportunity, click here.

Introducing the Galesi Group’s Featured Property of the Month,

Building 1 in the Northeastern Industrial Park, Guilderland (Albany County), New York

Located within a full-service, secure industrial facility, Building 1 offers 95,400 sf of warehouse and 5,000 sf of office. Formerly a lumber distribution facility, Building 1 is subdividable in increments of 12,000 sf and features amenities such as rail siding, ample power, drive-in capability, available paved acreage for outside storage and more.

To read more about this real estate leasing opportunity, click here.

The Capital Region’s largest commercial and residential developers partner together for the recently announced development, Market Center at Railroad Place.

The Galesi Group, in a joint venture with Bonacio Construction, will develop a 196,000 square foot, mixed-use complex located on Railroad Place in downtown Saratoga Springs. This six-story urban complex will feature a new Price Chopper and a dry cleaner with additional retail leasing opportunities on the first level. The top five stories will contain 124 residential apartments available as 1, 2, or 3 bedroom units. Market Center at Railroad Place will be the first apartment style living developed in downtown Saratoga Springs in over 10 years.

Over the past 40 years, the Galesi Group has tackled complex residential projects including the development and sale of condominium units at Equinox on the Battenkill and at the Equinox Resort in Manchester, Vermont and the Top of the World in Lake George, NY. Currently, we are a partner in over 11,650 multi-family units located in Colorado, Florida, Georgia, North Carolina, Indiana, Tennessee, and Texas.

We are excited to announce that we are making progress at the redevelopment project at the former American Locomotive Co. (ALCO) site.

In mid-November, the Galesi Group commenced demolition of the deteriorating industrial buildings and warehouses and have since removed two additional buildings from the site. We anticipate that the demolition will be compete by mid Spring, however this is just our first hurdle in this complex project. Our next step is Phase II, which will require an extensive environmental clean up and removal of contaminated soil and groundwater.

Fortunately the Galesi Group has had years of experience in redeveloping brownfield sites.

Since 1985, the Galesi Group has been actively developing brownfield projects including former military facilities as well as inner city sites. Most recently, we were acknowledged for the environmental clean up of nine acres of land at the former Big N site. Over 10,000 tons of dirt and more than 400,000 gallons of contaminated water were processed in order to begin redeveloping at this brownfield site. The once contaminated manufacturing site resulted in the construction of the $30 million Golub Headquarters and the largest private-sector structure in the Capital Region to receive gold verification under the Leadership in Energy and Environmental Design Green Building Rating System.

Similar to the polluted industrial site at the former Big N, the ALCO site was an abandoned industrial property with environmental contamination that has remained onsite since World War II, when thousands of steam and diesel locomotives were being manufactured.

The overall goal of the ALCO redevelopment project is to turn the site’s contaminated land into a regional economic development project that will complement the City of Schenectady recent developments.

During this initial development design, we are reaching out to the area business leaders to seek their input on the types of amenities will help attract and retain their business and their employees in the City of Schenectady. This information will be vital in determining the direction of this project along the one-mile stretch of riverfront.

Over the past 6 months the Galesi Group has promoted the National Grid lighting program to our industrial tenants which has resulted in new, energy efficient lighting in over 600,000 sf. While the investment has been significant the savings both in terms of discounts for new lighting and energy usage is even more significant. It is estimated that we are saving 525,000 kWh annually within our industrial parks. If you decide to write any follow up articles on this subject we will be glad to provide testimony about the effectiveness of the program.

Beyond the National Grid program the Galesi Group has made significant advances towards environmental sustainability by aggressively promoting the use of rail, working towards LEED certification on new and existing facilities, and by partnering with Green Earth Technologies, an American clean-tech company.