CICERO, N.Y. — Seneca Data Distributors, Inc., a Cicero–based custom computer manufacturer employing 150 people, is trying to sell its headquarters building for $2 million.
The move follows Seneca’s recent acquisition by Arrow Electronic, Inc. (NYSE: ARW), a Colorado–based Fortune 500 company that employs 16,500 people globally. That deal became effective on Aug. 1, John Hourigan, Arrow’s VP of global communications, confirmed in an email to the Business Journal News Network this week.
The companies had not previously formally announced the acquisition and are not disclosing the price or other financial terms.
(Sponsored)
7 Cyber Security Essentials to Check Off
By Bogdan Bagovskyy vCIO Along with back-to-school season, Halloween decorations hitting the shelves, and the beloved pumpkin spice latte making its reappearance, there’s another often-overlooked event this fall: National Cybersecurity
Insurance Rates: What is really going on with these premiums and why they seem to be increasing!
This is a question we continuously get asked at CH Insurance. Clients with a good loss history, timely payments, excellent credit, and very good policies and procedures. All across the
Arrow did not acquire Seneca’s building in the deal, says Hourigan, noting that it is still owned by Seneca’s former owner and does not meet Arrow’s space needs.
The nearly 37,500-square-foot industrial/flex building, located on more than 5 acres at 7401 Round Pond Road in Cicero, is listed for sale with Pyramid Brokerage Company (part of the Cushman & Wakefield alliance) for $2 million. The structure has 15,000 square feet of office space on two floors and nearly 22,500 square feet of warehouse space.
The Pyramid Brokerage listing says Seneca will vacate the building before the sale of the property closes.
Hourigan says that Arrow is currently evaluating other buildings in the Syracuse area to which it may move Seneca’s operations. Seneca currently employs more than 120 people in Cicero, with some other remote employees in other locations, he adds.
When asked if Arrow plans layoffs at Seneca, Hourigan said this in an email:
“A broad-based integration plan and organizational evaluation are under way to ensure a smooth transition for Seneca employees, suppliers and solution providers. Throughout all parts of our business, organizational structures are evaluated on an ongoing basis, driven by and aligned to customer needs and requirements.”
When asked what will happen to Seneca’s CEO, Kevin Conley, and president, Greg Masingill, Hourigan said, “Seneca’s management and employees were key assets in this acquisition. As with any part of our business, we are currently evaluating organizational structures within Arrow and Seneca to best align to the changing needs of our customers and suppliers.”
Arrow, which generated $21.4 billion in sales and $399 million in net income in 2013, has more than 460 company locations across 58 countries. The company, headquartered in Englewood Colo., ranked number 138 in the latest Fortune 500 ranking of largest U.S. companies based on revenue.
Contact Rombel at arombel@cnybj.com
