The former Meakins-McKinnon Inc. warehouse at 378 Niagara St. was sold by the city Tuesday to Hilger Properties of Lockport for $128,519.
City Treasurer James W. Ashcraft Jr. said Hilger submitted the highest of four bids in a sealed-bid auction.
The sale is subject to ratification by the Common Council at its Sept. 15 meeting, and Hilger then would have 30 days to pay.
Hilger property manager Douglas E. Emerson said the company bought the 31,000-square-foot building as "investment property. It has a lot of possibilities," he said.
The Sherwood Division of Harsco has been renting most of the warehouse from the city for $4,000 a month, Ashcraft said, and Hilger inherits that lease. The property is zoned light industrial.