6344 E MOLLOY RD Dewitt NY 13057-1145

The Property is comprised of two buildings, the hotel and banquet facility with restaurant and retail liquor store. The property is in proximity to Syracuse Hancock International Airport and within a 15-minute drive of Downtown Syracuse, Syracuse University and Upstate University Hospital.

The hotel (“Sleep Inn & Suites Airport”) was built in 2016 and is currently operating under the Choice Hotels “Sleep Inn” flag. The hotel has 54 rooms three floors comprised of four (4) handicap accessible king suites, three (3) king suites, three (3) king Jacuzzi suites, 21 standard kings, 23 double queens, on and has consistently above average STAR Report performance.

The restaurant (“Barbagallo’s Tavern”) was built in 1980 and is a popular lunch destination for the many businesses in the area as there are few competitors nearby. Barbagallo’s Tavern has been in business for over 50 years.

The restaurant also features a banquet facility and a catering service that serves about 400 events annually.

The Liquor Store (“Barbagallo’s Discount Liquor”) continues to have steady growth since opening in early 2021.

Local Area Development Projects:

In last quarter of 2022, Micron announced its plans to build the largest semiconductor fabrication facility in the history of the United States. Micron intends to invest up to $100 billion over the next 20-plus years to construct a new megafab in Clay, New York, with the first-phase investment of $20 billion planned by the end of this decade. The new megafab will increase domestic supply of leading-edge memory, create nearly 50,000 New York jobs and represent the largest private investment in New York state history. Micron will design, build and operate the facility in accordance with its sustainability goals.

Micron’s project is aligned with the goals of the CHIPS and Science Act Notice of Funding Opportunity (NOFO) to enhance U.S. economic and national security by securing a leading edge in critical technologies and rebuilding a highly complex but critical manufacturing sector in the U.S.

In New York, the combination of a grant of commensurate scale and the long-term investment tax credit will help to bring high-volume leading-edge DRAM manufacturing to the U.S. on economically competitive terms.

The site of this Micron semiconductor facility is about 9 miles from this Sleep Inn / Barbagallo’s property (13-minute drive) and this new facility will be constructed on a 1,300 acre campus.

• The Sleep Inn & Suites Airport consistently outperforms the comparables set on STAR reports

• Barbagallo’s Tavern is a well-known establishment that has been in business for 50+ years

• Banquet facility and catering service serves about 400 events annually

• Barbagallo’s Discount Liquor opened in early 2021 and has experienced steady growth and increases in sales

• 614.11’ of frontage on East Molloy Road

• 109.82’ of frontage on Old Collamer Road