Anyone else hear that JLL bought the entire Webster campus, and Xerox is leasing a portion of it back? That JLL already has a tenant for 200?
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Bldg 200 is a great mfg. facility, but sadly not much large scale mfg is around Roch. anymore. Compound that with NY state taxes and regulations.
Bring in the bulldozers and then run them right through the campus
This rumor has been circling around for the last 5 years.
Rumor is that Building 200 and 334 sold. Anyone know to who?
I guess it’s just another rumor. That’s it.
Sounds like the Xerox Square all over again. Sold the building to Buckingham Properties only to lease it back. Xerox Square is still for sale over a year later after we all moved out to Webster. Again no new ideas on Xerox's part. Same ol' same ol'.
Asbestos mitigation can be done very inexpensively by shady groups. I had a 40k sq ft facility abated in 3 days for under $50k. Many xerox facilities on the campus only have asbestos around the HVAC supply runs. Makes it a cakewalk but the FUD around it draws price gougers who have dominated the market. Also pre-razing abatement is a heck of a lot cheaper than pre-occupancy abatement.
Many of these buildings have not been demolished because doing so is more expensive than the taxes paid, especially when asbestos mitigation is considered. Buildings that have been vacant for along time already are determined demo to not be cost effective. Newly vacant buildings could be an option.
JLL=Jones Lang Lasalle, property mgmt company. Hard to define exactly but they take over various functions such as grounds, repairs, leasing, space mgmt, everything facilities related. If they buy the campus, they will notice giant taxes from NYS and local that could be reduced by removing those buildings (bulldozing).
Who or what is JLL ?
Somebody from facilities posted something like that in one of the boards similar message. Question is will JLL bulldoze to save taxes.
Do a search for "sale-leaseback" on google. It's a very common practice for real estate. Corporations are able to remove a huge portion of liabilities on their balance sheet by doing this.
I haven't heard that, but it's obvious the campus is up for sale (or will be if it isn't.) There are a lot of empty buildings, so the only reasonable options are to sell the campus and lease back what is needed, split up into parcels and sell pieces not occupied, or mothball/demolish unused buildings to lower taxes.
I've observed improvements to grounds and buildings, nothing Earth shattering necessarily, some curb appeal, but certainly more than what has transpired here for years prior.