Listen to this articleA Syracuse-based real estate investment firm has purchased another property in Rochester, expanding an already extensive portfolio of industrial facilities.
Ironhorn Enterprises, through Excel Drive Properties, LLC, paid $1 million for the 2.34 acres and the 21,356-square-foot building at 10 Excel Drive in Rochester. The deed was filed Thursday with the Monroe County Clerk’s Office.
The seller was 10 Excel Drive, LLC, an entity managed by Jeffrey S. Sherwood, owner of Premier Sign & Awning Systems, LLC. The property was home to his business and is now listed for lease by Ironhorn.
Ironhorn Enterprises, owned by brothers Greg and Colin Cleghorn, has an industrial real estate portfolio valued at more than $200 million, with 92 properties across 10 states. That includes 15 in the Rochester area.
The Excel Drive property was the fourth purchase by Ironhorn in the city of Rochester in the past eight months. The firm paid $1.025 million for 1425 University Ave. in Rochester in February, $408,000 for 620 Buffalo Road in December, $6.1 million for 801 West Ave. in September and $550,000 for 164 Newbury St. in August.
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