Munter In The News...

Ground Broken For Condominium-Ownership 'Flex Park' in Wilton

By Rod Bacon - Saratoga Business Journal

Ground was broken in mid-August for a "flex park" in Wilton that will offer condominium ownership of office, professional and warehouse space. Named Edie's Crossing, the project will encompass 140,000 square feet at build-out and could boast as many as seven buildings. It is being developed by Saratoga Springs businessman Kwang Pai, who also owns a commercial building at 30 Gick Road in that city.

The initial building, being erected by Munter Enterprises of Middle Grove, will be a two-story, 20,000-square-foot structure. It can be divided into spaces as small as 880 square feet or as large as a full floor. "People are looking for smaller spaces, but those are difficult to find," said David A. Leman, owner and principal broker of lemanrealty.com., the firm marketing the project. "We're supplying that need." The spaces are being offered for purchase, lease, or lease with an option to buy. As the name implies, flexibility is key.

Leman explained that the ground floor is appropriate for either office or warehouse space, while the second floor will house primarily offices. Tenants on the ground floor may elect to have either a regular door or a garage door at the rear of their spaces.

"We are building a lot of flexibility into the first building to give tenants the greatest number of choices possible," he said.

There will be abundant parking throughout the park. Plans call for the first building to have 50 spaces.

The park is located at the corner of Route 50 and Edie Road in Wilton, three miles from I-87 exits 15 and 16. The mailing address is 4300 Route 50, Saratoga Springs. "We’re offering the best of both worlds," noted Leman. "Tenants will enjoy the low costs of Wilton and have a Saratoga Springs mailing address." He pointed out that property taxes on commercial space in Wilton are $1.20/square foot/year, while similar space in Saratoga Springs carries a tax rate of $2.68/square foot/year. Rental rates will start at $13 per square foot.

Another significant cost saving to tenants will be the use of geothermal energy, which is being installed by Aztech Technologies of Ballston Spa. Leman said that a tenant in one of the smaller spaces will pay heating and cooling costs of approximately 30 cents/square foot/year.

An insulated panel system is being used in the building’s construction that will provide R26 insulation values in the walls and roof, and a high quality exterior finish. "It will be both aesthetically pleasing and very energy efficient," said Mike Munter, vice president of Munter Enterprises.

He added that his firm played an integral part in the conceptual design and approval process, working with Paone Architecture PC of Saratoga Springs, Miller Associates of Glens Falls, and Nace Engineering PC of Queensbury. Occupancy of the first building is scheduled for May 2011. For further information, contact David A. Leman at 584-4488.