VIP Development buys CenterState CEO building

SYRACUSE — VIP Development Associates, Inc. (VIPDA) has announced its purchase of the building that houses the headquarters of CenterState CEO at 572 S. Salina St. in downtown Syracuse.

VIP didn’t disclose the purchase price or other financial terms of the deal.

CenterState CEO, the area’s primary chamber of commerce and economic-development organization, plans to move into the Pike Block at 300 S. Salina St. as the anchor tenant.

CenterState has signed a lease for about 14,000 square feet of space in the second floor of the Witherell Building and the first and second floor of the Chamberlin building.

The organization has yet to announce when it plans to vacate its current structure while renovation work continues on the buildings that comprise the Pike Block.

At the same time, VIPDA is working to find new occupants for CenterState’s current location.

“We are talking with several possible tenants who have expressed interest in space at CenterState’s building,” Charles Wallace, president of VIP Development Associates, said in a news release. “We are committed to furthering the redevelopment of various projects downtown and this fits our development capabilities very well.”

VIPDA is also the developer of CenterState’s future home, the Pike Block, and has been busy signing up tenants there. It has already signed leases with Tim Hortons Café and Bake Shop, Jimmy Johns Gourmet Sandwiches, and Pathfinder Bank, the firm said.

VIPDA is the development arm of VIP Structures, a Syracuse–based design-build firm, which is located at One Webster’s Landing near Franklin Square.

VIP Structures also includes VIP Structures, Inc., which focuses on construction projects, and VIP Architectural Associates, according to the company’s website.

Contact Reinhardt at ereinhardt@cnybj.com