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26 Jul, 2023, 08:38 ET

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Central New York campus to become site of new State Police Auxiliary Academy, boosting local economy and beyond, announce A&G Real Estate Partners and Governor Kathy Hochul

CAZENOVIA, N.Y., July 26, 2023 /PRNewswire/ -- Cazenovia College will serve as the home of the New York State Police Auxiliary Academy in a lease transaction arranged by A&G Real Estate Partners and announced by Governor Kathy Hochul.

The two-year lease will give New York state police access to the closed college's 27-acre, 14-parcel main campus as well as the Schneeweiss Athletic Complex, with its gyms, offices, training room, racquetball court and locker rooms. Located in the heart of Cazenovia—a scenic village 20 miles south of Syracuse in Central New York—the nearly 200-year-old college ceased operations this past spring.

"A significant portion of the Cazenovia College workers will be retained or rehired as a result of this lease, which will boost economic activity in the Cazenovia community and beyond," said Emilio Amendola, Co-President of A&G and head of the New York-based firm's real estate sales division. "Along with Governor Hochul, we're extremely pleased to announce this creative and constructive outcome."

Part of Governor Hochul's plan to bolster public safety in New York state, the leased space is large enough to allow up to 275 recruits and 115 instructors, according to the governor's office. The first class is scheduled to start in October of 2023.

This past March, A&G announced that it was accepting purchase and/or sale offers for two campuses at the Central New York college—both the wooded campus dotted with 19th-century brick buildings, as well as the 244-acre equestrian and horse-industry education center (including adjacent land).

"The well-known equestrian center is still available for lease or purchase, and we are actively entertaining inquiries from a number of parties both within and outside of the equestrian world," noted Christian Koulichkov, Managing Director, Real Estate Sales, A&G Real Estate Partners.

The center features one indoor arena, two outdoor arenas, and a three-bedroom guesthouse. Multiple rooms for feed, tack and hay storage support a total of 71 stalls; 87 acres of additional land are available as well. Other highlights include its soaring great room; gatehouse with a welcoming living room and stone fireplace, and large, newly built deck overlooking the paddocks.

Historically, the center has been active throughout the year with riding programs, horse-industry classes and regionally and nationally known shows, clinics and camps. "While buyers from within the horse industry are a logical fit, the center's bucolic setting and abundant land creates many other creative possibilities," Koulichkov said. "Economic grants and incentives could be available to new users."

A&G has sold more than $12 billion in real estate and leases in connection with M&A transactions, restructurings and other projects. The New York-based firm's past engagements in the education sector include ITT/Daniel Webster College, Dowling College, The College of New Rochelle, Career Education Corp., and Kaplan University. "There's a lot of great real estate across the education sector," Amendola noted. "The challenge today is to find the right lessees and buyers to adaptively reuse these large, well-located sites. As this lease demonstrates, those users can be found with the right approach."

For more information on the equestrian center:https://www.agrep.com/index.php/cazenovia

Media Contacts: Jaffe Communications, Elisa Krantz, (908) 789-0700, [email protected].

SOURCE A&G Real Estate Partners