TROY, N.Y. — First Columbia says it has moved new business to Troy after the states re-stacking initiative.
After 600 Department of Health jobs were removed from the Hedley building, First Columbia moved in with more than 500 new jobs to the Riverfront complex.
"We decided to make a bold move and upgrade the building to Tier II quality, based on the lower vacancy rates of higher quality properties such as First Columbia's Century Hill Plaza in Latham. We've invested $7 million into the building adding a significant amount of parking and amenities and are very happy to see the market react so positively and so quickly" said Deborah Mikhitarian-Russell, partner of First Columbia.
Leasing results from 2013 bring the building occupancy to more than 75 percent with rates increasing by 13.6 percent year over year.