The above Commercial Development Site is part of a 300+/- acre Planned Development area that has been designated as such because of its prominent location on both sides of Route 9, in the town of Schodack just north of the Columbia County - Rensselaer County border. As new commercial development has moved out from the state capital in Albany and traffic has increased along the Albany to Boston corridor, the property has become even more important because of its close proximity to the last underdeveloped interstate exit ramp on I-90. This is one of the last pieces of prime development property located next to an Interstate interchange in the Capital District area of New York State. With only a small handful of residential properties in the same general area, community opposition would be minimal.
The traffic to the site and the development potential of the land increased dramatically when the New York State Thruway built an entrance/exit ramp (Exit B-1) onto Route 9, located about a mile from the property. Most recently, another highly traveled entrance/exit ramp (Exit 12) from Interstate I-90 was constructed even closer to the property. The site is also the "key" to providing access to some of the adjoining commercial properties in the area and the Buyers may be able to recoup some of the purchase price by permitting access to these other properties over this land at some future date. It also has a good water supply and 3 phase electrical power and optical cable lines are available.
The Owners of the Peacedale development site have one primary goal and that is to have the property developed not only the way they would want it, but to develop it in conformance with the wishes and desires of the Town planners and the community as well. The Peacedale development site is not something to be wasted with a hodgepodge of smaller independently developed parcels, which quickly becomes apparent after a visit to the site.
The property is zoned PLANNED DEVELOPMENT (PD-1) and is ideal for Commerce Park, manufacturing, large truck stop, office buildings, retail shopping center, storage and/or distribution centers, hotels, light industrial plants, movie theaters, ice skating rinks, restaurants, etc.
1031 CAPITAL GAINS TAX DEFERMENT:
For those who have property for sale or know of someone that has, that would want to partner on the purchase of Peacedale, the following could be of extreme interest as it applies to the 1031 tax deferment of capital gains law. The 63 acre package is divided into 3 previously deeded parcels and they will be sold as such. The Sellers have a 1031 deferment need and in fact a cooperative clause will be written in with the sale of this property, as the 1031 format has a very tight time restraint as far as choosing properties and closing them. A buyer of this property will have a broad scope of time in order to comfortably purchase the property not only for the time constraints involved but for the prices that the Sellers will fairly distribute on the 3 parcels.
This should work very well for anyone that qualifies for the conservation/easement considerations as the purchase price is relevant to the bargain sale price to the conservation people. In other words, the Sellers have the flexibility to accommodate the needs of a buyer and ours as well, simple based on timing as it applies to the 1031 law.
ADDED VALUE:
For those who are extremely value conscious, there are four elements to this sale that exceed the asking price:
Click on the following text links below for additional information.
If you would like more information on this property, please call JOHN WALLACE at 518-392-7062 or click on the mailbox below to obtain a informational package.
