OSWEGO — A real estate development group in Syracuse has acquired Midtown Plaza in Oswego.
Sutton Real Estate will manage and lease the property for the new owner, SRE-Midtown Acquisitions, LLC. The 68,000-square-foot retail center is in the heart of Oswego, according to Sutton.
It includes two floors of retail and office space including a Rite Aid Pharmacy, Joanne Fabric, The Green Planet Grocery, New York State Off Track Betting, and Oswego County Opportunities. The new ownership group is working with the city of Oswego to identify ways to enhance the property and attract other potential uses, according to Sutton.
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The commercial real estate market has been rough for some time, and the residential market has seen wild fluctuations. Inflation, high interest rates and decreased demand for office space have
Sutton is involved in other projects in Oswego, including rehabilitation of the former Seaway Supply Building into apartments. The firm also manages the Stevedore Building for another development group.
Contact Tampone at ktampone@cnybj.com
