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Strides of CNY jogs business with new location
SYRACUSE — Strides of CNY, LLC stepped into a new location in the city of Syracuse at the end of January. The strength and conditioning firm moved into 4,800 square feet of space at 738 Spencer St. It gained more space in its relocation — and it proceeded into a more central location. “We’ve got […]
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SYRACUSE — Strides of CNY, LLC stepped into a new location in the city of Syracuse at the end of January.
The strength and conditioning firm moved into 4,800 square feet of space at 738 Spencer St. It gained more space in its relocation — and it proceeded into a more central location.
“We’ve got all these local businesses in the area,” says Michael Derecola, owner of Strides and its head strength and conditioning specialist. “We have Syracuse University, we have Le Moyne College. We have soccer centers that are closer, the Syracuse Soccer Academy right up the road, and the mall’s nearby. There’s a lot of traffic in this area.”
Before moving, Strides was at the CNY Family Sports Centre at 7201 Jones Road in Van Buren. It leased about 4,000 square feet of space there.
Its new space has a lounge with a refrigerator, microwave, and blender for athletes. It also offers a different feel, according to Derecola.
“I think what we wanted to do was provide a more private environment with more space to do what we wanted and to cater to a population that’s interested in what we do,” he says.
What Strides caters to is a wide range of athletes, athletic hopefuls, and fitness buffs. The firm’s clients range from elementary-school students — children ages 8, 9, and 10 — through college athletes, professional athletes, and older adults in their 30s, 40s, 50s, and 60s.
Professional athletes who train at Strides include those in soccer, ice hockey, and mixed martial arts, according to Derecola, who is a former head athletic trainer for the Syracuse Crunch. Those who aren’t students or athletes may be training for triathlons or marathons, or they might just want to lose weight or get in shape for weekend golf outings, he says.
Services Strides offers include sports-performance training, adult functional training, boot camps, cardio kickboxing, boxing lessons, and self-defense classes. Derecola is also looking into other fitness classes like Yoga, Zumba, and salsa dancing. And the business includes conditioning, strength, and nutrition programs.
“A lot of the big-box gyms basically want your money,” Derecola says. “They don’t want you to come back. We want you to come back and get results. You’re getting guidance, you’re getting direction, and you’re paying for a service rather than just space or equipment.”
Strides renovated its space at 738 Spencer St., updating its bathrooms, adding new carpet, and applying coats of paint where necessary. The address had been a warehouse, so it needed some work, Derecola says.
The company performed the updates itself. It employs one person besides Derecola, and it also has two interns.
Two employees has been standard staffing for Strides over the years, according to Derecola, who founded the company in 2003. But he may take on more interns in the future, because exercise-science degrees seem to be becoming more popular at colleges, he says.
Moving into Syracuse could help Strides boost its revenue by as much as 20 percent to 30 percent in 2013, he adds before declining to share specific revenue totals. Marketing strategies include word-of-mouth and coupons sold by the online service LivingSocial.
About 75 to 100 people currently visit Strides’ location in any given week. Derecola also trains teams at Le Moyne College and the State University of New York (SUNY) at Oswego. He estimates he trains about 100 individuals at Le Moyne and around 30 at SUNY Oswego.
Rawanco LLC of Lysander owns the property Strides is leasing. Allegiance Realty, LLC of Syracuse brokered the lease.
Sports-performance training and adult training at Strides cost between $75 and $780 a month, depending on the type and frequency of training, according to the company’s website. Personal training ranges from $60 for a single one-hour session to $840 for 24 sessions that each last one hour.
“We started with athletes, and started with hockey players,” Derecola says. “Then it progressed into what we’ve got going on now, which is getting bigger and bigger each year.”
Contact Seltzer at rseltzer@cnybj.com
Leaders at Berkshire Hills Bancorp, Inc. (NYSE: BHLB) see room for growth in the year ahead in the banking company’s new Central New York footprint. Berkshire Hills, parent of Berkshire Bank, first entered the Central New York market in 2011 with its acquisition of Rome Savings Bank. The company then closed a $132 million acquisition of DeWitt–based
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Leaders at Berkshire Hills Bancorp, Inc. (NYSE: BHLB) see room for growth in the year ahead in the banking company’s new Central New York footprint.
Berkshire Hills, parent of Berkshire Bank, first entered the Central New York market in 2011 with its acquisition of Rome Savings Bank. The company then closed a $132 million acquisition of DeWitt–based Beacon Federal Bancorp (NASDAQ: BFED) in October.
The moves give Berkshire access to a market with a total population of about 700,000, Berkshire Chairman and CEO Michael Daly said during a Jan. 29 conference call on the bank’s latest quarterly results.
Beacon Federal had about $1 billion in assets and seven branches in DeWitt, East Syracuse, Marcy, and Rome, as well as Smartt, Tenn., Smyrna, Tenn., and Chelmsford, Mass. The Rome and Syracuse markets together now form Berkshire’s Central New York region.
Berkshire previously announced it would divest Beacon Federal’s Tennessee branches.
Daly said Berkshire recently added a new commercial leader for the Syracuse market, which he added was an important part of the bank’s strategy. The Beacon deal also helped Berkshire build its presence in eastern Massachusetts with the addition of the Chelmsford location, he said.
Berkshire is expecting cost savings related to the Beacon Federal deal of 30 percent, Berkshire Executive Vice President and CFO Kevin Riley said during the call. The bank will reach that goal after Beacon Federal completes a conversion of its banking system in March, he added.
Berkshire Hills cut 11 jobs following the Beacon Federal deal. Beacon Federal had about 130 employees before the acquisition.
For the fourth quarter, Berkshire Hills earned $9.3 million in the fourth quarter, up from $8.5 million a year earlier. Earnings per share for the period totaled 38 cents, down from 40 cents in the fourth quarter of 2011.
Excluding the effects of acquisition and system conversion costs, Berkshire earned $13.2 million, or 54 cents a share.
For the full year, Berkshire earned $33.2 million, or $1.49 per share, up from $17.3 million, or 97 cents a share, in 2011. Excluding acquisition and system conversion costs, the company earned $44.2 million, or $1.98 per share, in 2012.
“We’re pretty focused on the challenges and opportunities in front of us in the new year,” Daly said. “And I think the industry challenges are pretty widely agreed on: margin pressure due to low rates and business volume uncertainties due to an uneven economy.
“But by positioning ourselves strategically and reacting flexibly, we believe that we’re prepared to deal with those challenges”
Berkshire has assets of $5.3 billion and 75 branches in Massachusetts, New York, Connecticut, and Vermont.
Deposits at the end of the year totaled $4.1 billion, up from $3.1 billion at the end of 2011. Loans totaled $3.4 billion, up from about $3 billion.
Contact Tampone at ktampone@cnybj.com
Excellus allots $30,000 in funding for CNY ambulance modems
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Excellus incentives also headed to Mohawk Valley, Southern Tier hospitals
Excellus BlueCross BlueShield has released lists of hospitals in its Mohawk Valley and Southern Tier regions receiving funding under its Hospital Performance Incentive Program. Earlier this week, on Feb. 6, Rochester–based Excellus named eight Central New York and North Country hospitals receiving awards under the program. The health insurer — the largest in Central New
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Excellus BlueCross BlueShield has released lists of hospitals in its Mohawk Valley and Southern Tier regions receiving funding under its Hospital Performance Incentive Program.
Earlier this week, on Feb. 6, Rochester–based Excellus named eight Central New York and North Country hospitals receiving awards under the program. The health insurer — the largest in Central New York, the Mohawk Valley, and the Southern Tier — makes its incentive awards based on hospital improvements in clinical outcomes, efficiency, patient safety, and patient satisfaction.
In 2012, Excellus made a total of $26 million in awards to 54 hospitals across upstate New York.
A total of 10 hospitals in the Mohawk Valley region received funding under the program: Adirondack Medical Center, Alice Hyde Medical Center in Malone, A.O. Fox Hospital in Oneonta, Bassett Medical Center in Cooperstown, CVPH Medical Center in Plattsburgh, Community Memorial Hospital in Hamilton, Faxton St. Luke’s Healthcare of Utica, Oneida Healthcare Center, Rome Memorial Hospital, and St. Elizabeth Medical Center in Utica.
Meanwhile, seven hospitals in the Southern Tier earned funding: Arnot Ogden Medical Center in Elmira, St. Joseph’s Hospital in Elmira, Corning Hospital, St. James Mercy Hospital in Hornell, Lourdes Hospital in Binghamton, and two hospitals operated by UHS.
Excellus has awarded more than $145 million since starting its Hospital Performance Incentive Program in 2004.
Contact Seltzer at rseltzer@cnybj.com
PAR Technology reports loss in 4th quarter
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Solvay Bank rolls out new mobile platform
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Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.