Rochester real estate investor buys former State Farm...
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BALLSTON — A Rochester real estate investment firm has acquired a former State Farm insurance call center in the town of Ballston off the Northway for $2 million.
The Albany Business Review was the first to report the purchase by Flaum Management of Rochester. Flaum owns the Latham Farms and Queensbury Plaza retail centers.
Flaum Management did not return a call from the Times Union seeking comment on the deal, although the Business Review reported that Flaum Management bought the two-story, 124,171-square-foot building from a a Connecticut builder named John Senese who had purchased the building at auction for $1.36 million.
The call center building, built in 1999, is part of a larger campus that State Farm operated at the site. The building has 485 parking spots and two 54-person training rooms. It is located off Northway Exit 12.
Ten-X Commercial auctioned off the building in partnership with Cushman & Wakefield Pyramid Brokerage Co. to Senese, who owns Calco Construction of Farmington, Conn. Senese then re-sold the property to Flaum, which didn't place a bid during the original auction, the Business Review reported.
The next step for Flaum is to find tenants.
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Larry Rulison has been a reporter for the Albany Times Union since 2005.
His decades-long career in journalism began in 1994 when he was hired as the editor for a small-town upstate New York weekly known as the Canastota Bee-Journal. He later worked at the Fayetteville Eagle Bulletin, the Baldwinsville Messenger and the Adirondack Daily Enterprise in Saranac Lake. He has covered business since 1998, working for Mutual Fund Market News in Boston and later the Baltimore Business Journal and Philadelphia Business Journal.
Larry's reporting for the Times Union has won several awards for business and investigative journalism from the New York State Associated Press Association and the New York News Publishers Association.
Contact him at (518) 454-5504 or by e-mail at lrulison@timesunion.com.