Equilibrium Equities acquires of 270,000 s/f distribution center
ELMIRA HEIGHTS, NY — An affiliate of Equilibrium Equities, Inc. of Blue Bell, PA has acquired a distribution center of approximately 270,000 s/f on 12.4 acres located at 340 Upper Oakwood Ave. in Elmira Heights (Corning area), Chemung County, New York for an undisclosed sum. The property is 1.6 miles from Exit 52A of Interstate 86. Equilibrium will immediately rebrand 340 Upper Oakwood Ave. as a multi-tenant distribution facility called “Victory Business Center.” The project has 45 tailgate loading doors and ceiling clear heights ranging from 18’ to 28’. Planned renovations will include improved exterior aesthetics, roof replacement and repairs, lighting and signage upgrades, interior demolition, minor building system repairs and enhancements to dock doors/equipment. Leasing and renovation activity at Victory has already commenced. The property is presently over 70% leased, but suites from 9,000 to 60,000 s/f are still available.