LATEST NEWS

The former Save-A-Lot distribution center in Greene County sold for $20.5 million and
will be upgraded and rebranded to attract industrial tenants that want access to the
state's Hudson Valley region.

The 333,386-square-foot building at 1 Van Bergen Lane in West Coxsackie was purchased
by Winstanley Enterprises LLC of Concord, Massachusetts, one of the largest regional
owners and operators of commercial real estate in the Northeast.

The deal closed Monday. Winstanley Enterprises financed the purchase with its own
capital.

The seller was SAL Asset Holdings LLC, with an address in Indianapolis.

Save-A-Lot, a discount supermarket chain, announced in January 2023 it was closing the
distribution center as part of the company's transformation into a wholesale grocery
supplier.

Located on a 30.7-acre parcel at the Greene Business and Technology Park on Route 9W
in the rural town, the facility will be renamed the Mid-Hudson Logistics Center. It's near
Exit 21B of the New York State Thruway.

“This is an ideal location in the Hudson Valley that can fully serve the entire
northeastern seaboard from Boston to Philadelphia,” Adam Winstanley, principal of
Winstanley Enterprises, said in a prepared statement. “We look forward to working
closely with the community, creating new local jobs, and offering industrial tenants a
top-tier facility with access to a skilled local labor workforce.”

The facility has 61 loading docks, two drive-in doors, and parking to accommodate 77
trailers and 216 passenger vehicles. Winstanley Enterprises will make improvements to
the parking lot along with the interior and exterior of the building.

The company will market the space for industrial operations including dry and cold
storage. Occupancy is immediately available. There's also the potential to add up to
197,300 square feet.

The vacancy rate for industrial properties in the Albany region climbed higher in the
second half of 2023 but the overall market is still strong, according to CBRE Upstate NY.
The vacancy rate was 2.7% compared to 2.2% in the first half of 2023 and 1.9% in the
second half of 2022.

Winstanley Enterprises owns and operates more than 12.5 million square feet of
commercial real estate.

Its investments include the Mohawk Valley Industrial Center, a shovel-ready parcel on
Route 5S in the town of Florida in Montgomery County that can fit up to 800,000 square
feet of development.

The company also controls the Tryon Technology Park in the town of Perth in Fulton
County that can fit up to 1 million square feet of development.