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First Niagara Bank - NY, PA & CT

Overview

First Niagara Bank, a financial services company headquartered in Pendleton, NY, owned approximately 120 branches in 23 counties across New York State.

Critical Issue

First Niagara Bank, a financial services company headquartered in Pendleton, NY, owned approximately 120 branches in 23 counties across New York State.  The company was seeking an experienced, trustworthy, first-class commercial real estate company to manage all of their real estate transactions and outsource facilities and property management services.

Action Steps

In 2005, after a nationwide RFP process, Ciminelli Real Estate Corporation (CREC) was selected by First Niagara Bank to oversee the facilities management of their 1,000,000sf portfolio, and provide an array of additional real estate services. 

In preparation for assuming property management at all bank branch locations, Ciminelli designed a Property Takeover Plan specifically for First Niagara.  A team of experienced professionals was dedicated solely to the client, technology driven management tools were incorporated, and policies and procedures were standardized to ensure maximum performance at all locations. 

Results

Our 15 years of property ownership, leasing and management experience, enabled our team to understand the client's goals through an owner's perspective, bringing great value to the client.  In the first year as property manager, Ciminelli reduced costs, implemented a web based Work Order System, leveraged the workforce, improved building maintenance, streamlined the vendor system, and enhanced the quality of service at each of the 120 bank branches.  As the bank has continued to grow through acquisition, this model has been proven successful throughout the Bank's real estate portfolio. 

Additionally, Ciminelli's leasing team has been proactive and successful at identifying potential tenants and buyers for First Niagara properties as the Bank has grown.