SI developer renovates office complex

Developer Richard Nicotra bought the Teleport office complex, vacant
since 2002, for $25 million from Silverstein Properties in December.
The vacancy has hurt local businesses, including Nicotra’s Hilton Hotel
across the street from the office complex, because office complex
employees are no longer holding meetings or buying lunch in the area.
Nicotra is currently doing a $10 million to $15 million renovation.
Nicotra said rents at the complex will be $19.95 per square foot.