Prime Commercial Development Land
This 100+/- Acre offering of commercial development land, also known as the former Peacedale Farms, consists of 33+/- acres of undeveloped land on the east side of US Route 9, and 67+/- acres of partially developed land on the west side of US Route 9. The entire site is prime development land because of its prominent location on both sides of Route 9, at the Columbia County - Rensselaer County border. Although it has always been at the forefront of local commercial activity, as new commercial development moves out from the state capital in Albany and traffic increases along the Albany to Boston corridor, the property has become even more important to the Capital District area of New York State.
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 approximately 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. Combined with the existing 7,500+ feet of road frontage on State and Town roads that already existed, this parcel of land has now become an even more important property for commercial/industrial development. 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.
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 property is zoned 'Planned Development One (PD1)' and is ideal for Commerce Park, manufacturing, large truck stop, office buildings, storage and/or distribution centers, hotels, light industrial plants, movie theaters, ice skating rinks, restaurants, etc.
The initial proposal that is being offered, starting with the 30 plus acres on the east side of the road, is designed for an investor/developer that would want to reserve capital by starting with a multi-family/condo, hotel, shopping center or senior citizens complex on the east side of Route 9 and at the same time, lock in the 67+/- acres across the road with a low-cost release option. We believe that the establishment of a 30 acre development on the east side, with the optional water system in place, would immediately increase the value of the remaining 67 +/- acres because of the availability of water under pressure and need for additional commercial services with extensive frontage on an ever increasing busy 4 lane highway.
Because of the size of a project foreseen in this Planned Development concept, in the Seller's release option proposal, it would allow a developer to purchase a part of the property (the 33 acre plus or minus east side parcel) with an option to purchase the balance of the property, on the west side, approximately 65 acres. It would be clearly evident that if an adequate water supply was installed, especially for insurance rate considerations, that the value of the west side properties would dramatically increase, along with the adjoining properties of neighbors (approximately 300 acres in what we refer to as the Peacedale envelope).
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.
