New Hire for Sutton 2021

Sutton New Hire

Sutton Real Estate Company is proud to announce a recent hire at its company.

Kelly Honors joins Sutton Real Estate as the new Receptionist. Her role is greeting and welcoming guests and providing them with a positive first impression of the organization. Her role also includes writing maintenance requests, managing property signage and mailing. Kelly has the experience from her previous customer service jobs in the Syracuse area.

 

Featured on: NYREJ

 

 

The Sutton Report: January

Sutton is kicking off 2021 with a new blog series. In an effort to get to know our internal sales team, we are sitting down to discuss business and market conditions. First up is Real Estate Associate Broker Stephen Saleski

SUTTON: What change has been most difficult for you as a result of the COVID-19 pandemic?

 

SS: The biggest challenge that I’ve personally encountered with the COVID-19 pandemic has been compliance with the ever changing rules for showings and the paperwork to be completed and maintained. People continue to want to do business, so I’ve tried to do it in a safe and conforming manner. NYSAR was a good source of information and updates, and continues to be helpful in maintaining compliant practices.

 

SUTTON: How is Sutton encouraging teamwork?

 

SS: Sutton’s culture is one of unity and collaboration. I’ve been treated like family since I started and that is a consistent sentiment that I’ve heard from people throughout our organization. There has been constant communication from management throughout this pandemic. They’ve demonstrated constant care and concern for employees, tenants and clients, providing financial and technological resources to help us weather this storm. Our team has remained positive, motivated and dedicated to help us succeed and I’m proud and happy to be a part of it.

 

SUTTON: What areas of your work are still strong?

 

SS: The industrial sector has remained the strongest, as demand for warehouse space continues. Land acquisition and development activity hasn’t diminished as I thought it might. Not surprisingly though, a slowdown in office and retail activity has been apparent. I’m part of a team at Sutton that has been active in the hospitality sector. We’ve seen significant investment activity in hotel properties, in anticipation of a significant recovery down the road. I’ve only had one deal that was a casualty of the pandemic. The rest have progressed slowly but steadily. We have closed two hotel deals recently and another is scheduled to close soon.

SUTTON: How do you expect the market to look six months from now?

 

SS: I’m hopeful the vaccines will inspire confidence to open back up the economy and people’s desire to resume normal activities will keep us on the path of robust growth.

 

SUTTON: Are there any changes you’ve made that you personally hope will continue?

 

SS: I’ve dedicated more time to personal and professional development and hope to continue to maintain time in my schedule for both.

 

SUTTON: What is one thing you wish you could tell yourself a year ago?

 

SS: Focus more on short-term rather than long-term goals and be more flexible and prepared to navigate changes more quickly.

Holiday Wishes from Sutton

2021 Holiday Wishes

As most of us anxiously wait for the New Year and hopefully a return to some of our normal routines we would like to wish all of our staff, clients and the people in the community a happy and safe holiday season.  Safe and healthy really means something this year.

Who would have thought a year ago we would be in the place we are in today? For many of us, the last ten months have caused us to rethink the way we live, work and behave in our daily routine. For others, the economic and personal impact has been more challenging and in some cases catastrophic. Some have been impacted more than others-this disease did not play favorites.

We would like to thank everyone in our Company and Community that have made a difference in the lives of those that have been seriously impacted by health issues, personal challenges and economic hardship. But we live in an extraordinary community and when the chips are down there are always people ready to rise to the occasion.

We would like to share something that occurred this week at one of our apartment communities. A tenant asked the manager if there was someone in particular that needed help during the Holidays. In her words, she wanted to pay it forward because she felt fortunate her individual circumstances were not effected by the Covid-19 pandemic. As a result, the tenant paid a complete stranger’s rent for December and January. No fan fair just someone that felt like giving back. For us, regardless what your beliefs are and how you celebrate the holidays, this is the true spirit of the Christmas season.

We believe better times are ahead and wish everyone a safe and healthy Holiday Season.

 

Louis G. Fournier

CPM, President

Sutton Utilizes Auction Site

Ten - X

Buying and investing in distressed commercial real estate is becoming more popular as 2020 comes to a close. Our country and our businesses have learned many hard lessons this year on how to keep our careers running from a computer screen. Commercial real estate has seen no exception.

After the CRE database giant Costar acquired Ten-X, real estate auctions have become an excellent and fast way to obtain new properties. Ten-X enables investors and brokers to buy and sell commercial properties without having to do any dealings in person.

Kevin Valente, ARM® certified, Sr. Property Manager, gave the following insight into why using the auction sites has benefited Sutton’s clients looking to sell property:

  • Ability to get properties in front of legitimate buyers. Bidders in the auction have to be preapproved for their funds before the auction. 
  • All due diligence needs to be completed prior to the auction. Buyers have to put up 10% hard money within 24 hours of the winning bid. 
  • Transactions close between 45-60 days. If the buyer fails to perform, the owner keeps the money deposit and moves on to other interested bidders from auction day.

One of Sutton’s real estate associate brokers, Stephen Saleski, provided the following comments:

  • What is so impressive is that the average listing on Ten-X gets over 3,500 unique views, which has been Sutton’s experience as well. 
  • 96% of the properties on the site go from list to close in 90 days, making it a very efficient way to market and sell properties. We as brokers get great marketing support and the platform works well.

In summary, the Ten -X end-to-end platform provides brokers with the ability to tap into full service transaction resources; provides sellers success by exposing their commercial property to the largest buying pool in the world.

A win-win for commercial brokers and commercial property sellers in a trying market during difficult times.

Collaboratively written by:

Joe Lewis

SIOR, Vice President,
Real Estate Broker

Kevin Valente

ARM® certified,
Sr. Property Manager,
Real Estate Salesperson

Stephen Saleski

Real Estate Associate Broker

Sutton facilitates six deals

Syracuse Real Estate Agency

Louis Fournier of Sutton and Gina Marchese from All Phases Realty leased three properties at 390 Crystal Run Road in Middletown, including Healthy Deli, Empire Inspections & Appraisals, and Family Foot Care – all totaling 5,900 s/f.

Bart Feinberg of Sutton handled a four-property sale in Richfield Springs including the Historic Gladstone and Park Inn buildings, totally 21 apartments and four commercial store fronts.

Feinberg also successfully renewed a three-year lease with Proshred Security for 2,675 s/f, and a five-year lease of an 80-car parking lot and building for Enterprise Car Rental in Syracuse.

 

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