February 16, 2021 – Brian Ahrens, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of CenturyLink in Syracuse, New York. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $895,000.
CenturyLink is located at 1214-1220 Wolf Street in Syracuse, New York. The Property is made up of two concrete masonry buildings on a 0.72-acre parcel. The larger building features an extensive tenant buildout and houses CenturyLink’s proprietary telecommunications equipment and circuitry. The smaller building at the rear of the Property houses an above-ground fuel tank and emergency generator, to be used in the event of a power interruption. The Tenant, CenturyLink (NYSE: CTL), has been leasing the facility for over twenty (20) years. CenturyLink recently extended their lease term by 10 years. The absolute triple-net lease has 14+ years of term remaining plus 2, 5-year renewal options. The facility is used by CenturyLink to house critical telecommunications and fiber optic equipment in central New York. The facility serves as a central “Collector Node” of area telecommunications traffic that is then regenerated and amplified to CenturyLink’s proprietary long-haul/long distance network for transmittal. CenturyLink has invested over $1 million in infrastructure, security, climate-control and backup equipment at the facility.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.