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California real-estate investment firm acquires JADAK property in Cicero

By Journal Staff


Seeks accredited investors

CICERO — NAS Investment Solutions (NASIS), which acquires real estate investment properties, announced it has recently purchased the 55,000-square-foot, industrial office, manufacturing, and warehouse property in Cicero that is the headquarters of JADAK Technologies, a unit of Novanta Inc. (NASDAQ: NOVT).

Located at 7279 William Barry Boulevard in Cicero, the property is situated in a 425-acre office and industrial park adjacent to the Syracuse Hancock International Airport.

Built in 2008 and recently expanded in 2015, the building has 40,000 square feet of office space and 15,000 square feet of light manufacturing and warehousing space. 

The property is leased until June 2029 to Novanta, which designs, manufactures, and sells precision photonic and motion-control components. Its subsidiary, JADAK is a manufacturer of machine vision, radio-frequency identification (RFID), bar-code products, and medical printers. 

Los Angeles–based NASIS declined to disclose how much it paid for the Cicero property. The property last sold for $10 million in June 2017, according to Onondaga County’s online records. The county’s records don’t yet show the new sale to NASIS.

National Asset Services (NAS), a Los Angeles–based commercial real-estate company that is separate from NASIS, is handling asset management and property management for the property. 

 NASIS says it is seeking accredited investors for the property, which is structured as a Delaware Statutory Trust (DST).