NAS has assumed asset management and property management responsibilities for a Class-A, 55,000 square-foot, industrial office, manufacturing and warehouse property in North Syracuse, New York.
Built in 2008 and recently expanded in 2015, the New York industrial property consists of 40,000 square feet of office space and 15,000 square feet of light manufacturing and warehousing. Property is 100% leased to Novanta Corp., a wholly owned subsidiary of Novanta Inc., a NASDAQ publicly listed company [“NOVT”].
Located at 7279 William Barry Boulevard, the 6.7-acre property is situated within a 425-acre office and industrial park adjacent to the Syracuse Hancock International Airport.
Corporate HQ to JADAK Technologies, A Novanta Company. Since 2000, JADAK has been a tier one supplier to the healthcare market. A majority of its business is with medical device manufacturers. JADAK specializes in integrated Radio Frequency Identification, machine vision bar code scanning, printers and spectroscopy, providing both off-the-shelf and optimized product solutions for medical device manufacturers nationwide
The New York industrial property is structured as a Delaware Statutory Trust (DST) and is available for investment through NAS Investment Solutions, to accredited investors seeking 1031 exchange property. The property is also a a viable investment alternative that performs independently from stock market fluctuations and qualifies for accredited, self-directed IRA investors.
“We’re excited to be managing this Class-A, New York industrial office and being a part of the Syracuse real estate market. The Upstate New York region has experienced a strong increase in commercial real estate development and the Syracuse industrial market is performing consistently well, mirroring the growing demand for industrial product across the United States,” commented Karen E. Kennedy, President and Founder of NAS and NASIS.
Since 2008, NAS has served 2,495 investment clients and has established an impressive track record for investment property management. The track record includes generating over $535 million in cash distributions to property investors and managing a commercial real estate portfolio of 164 diverse commercial properties, comprised of 24.2 million square feet, in 29 states. The overall value of NAS’ managed portfolio in the company’s 11-year history, totals $3.28 billion.