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Glazer to buy B L building
Rochester, N.Y. -- Part of the citys skyline is about to be sold. The Bausch Lomb building, one of Rochesters tallest, most recognizable buildings is about to be taken over by three local developers.
Larry Glazer confirmed the $15 million purchase is in the works he, Robert Morgan and David Flaum signed the paperwork Thursday and expect to close on the property in late July.
CEO of Buckingham Properties, Glazer owns Midtown Plaza and Xerox Tower. He said the purchase of the 20-story building just made sense, part of a bigger planas gives him more area to work with as he looks to redevelop that downtown area.
Glazer said he plans to add retail space to the ground floor of the building and change the nameother than that tenants wont notice much of a difference. Glazer said the property will be operated and maintained the same was it was under Bausch Lomb.
When B L was bought out by Valeant Pharmaceuticals last year, employees were relocated so currently about half of the building is vacant.
I think that its great for Rochester and its great for the tenants, said Roy Rotenberg. One of the 400 employees who works for the one nine tenants in the building, Rotenberg said he is glad the property will be taken over these local developers. All three will do a wonderful job managing the building and keeping it one of the finest buildings in Rochester.
Glazer said those big picture plans continue to grow and are still evolvingbut he will do he believes will help redevelop Rochester.