More than $51.4 million worth of commercial real estate changed hands during the past two months in Erie County, led by the former Gaymar Industries building in Orchard Park, a television station, a retail plaza in Cheektowaga, a Sheridan Drive auto facility and a former Southtowns strip plaza.
The Erie County Clerk’s Office recorded 72 commercial transactions valued at $200,000 or more in May and June, as buyers and sellers continued a frenzied pace of activity. Both months tallied an average deal value of nearly $700,000, while the median or midpoint deal was $495,000 in May and $461,250 in June.
In June alone, 39 deals were worth $28.55 million. Among the highlights:
• E.W. Scripps Co., which bought WKBW-TV and a Detroit station from Granite Broadcasting Corp. for $110 million last month, bought the local station’s real estate, including its main building at 169 Church St., for $1.725 million and a separate property at 8909 Center St. in Colden for $1.365 million. Scripps Media Inc. made the purchases from Queen City Broadcasting of New York Inc.
• CCS Oncology, through 3021-3041 Orchard Park Road LLC, paid $2.4 million to buy a 4.6-acre property at that address, across the street from Southtowns Radiology’s new Orchard Park office at 3050 Orchard Park Road. The property includes a 44,596-square-foot single-story strip plaza, built in 1972, and was acquired from Robert G. Friedman’s Orchard Park Associates of New York City. Plans call for a new CCS Oncology location, adding to existing offices in Williamsville, Kenmore, Niagara Falls, Lockport, Hamburg and West Seneca.
• Medical device maker Stryker Corp., which acquired Orchard Park-based Gaymar Industries in 2010, sold the facility at 10 Centre Drive in Orchard Park to A-Titan Instruments, a precision dental equipment maker based in Hamburg, for $2.1 million. The property, located just off Route 20A in the Quaker Industrial Park, includes a 115,000-square-foot facility.
A-Titan, which is currently in 15,000 square feet of space, will occupy half of the building, while Pyramid Brokerage Co. of Buffalo will seek to find tenants for the rest, according to Pyramid’s Richard Schechter, who brokered the deal with colleague David Seider. A-Titan employs 30 to 35 workers now but hopes to increase its employment by 20 percent to 25 percent in the next few years, Schechter said.
• Anthony and Nicholas Cutaia’s Rane Property Management, acting through Fairways at Lancaster LLC, paid a combined $1.85 million to buy 5354 and 5360 Genesee St. in Lancaster from the Surowick family. The properties include the Harris Hill Golf Center Restaurant and Ice Cream – a 1,700-square-foot restaurant with an 18-hole miniature golf course – and an adjacent 37,520-square-foot Class B office building, constructed in 1997 on five acres. The entire property is at the front of the nine-hole Harris Hill golf course and driving range.
• AirSep Corp., a maker of air separation equipment and technology for commercial and medical uses, sold its headquarters facility at 401 Creekside Drive in Amherst to 401 Creekside Drive LLC for $1.6 million. The buyer is registered to Ark Wholesale LLC, an Amherst-based retailer of licensed sports apparel and novelty items. AirSep was acquired recently by Chart Industries.
• Following the closing of Hopevale Inc. and the merger of the Hopevale School District into the Randolph Academy Union Free School District, the Hopevale School at 3780 Howard Road in Hamburg was acquired for $1.5 million by Randolph Academy, which plans to reuse the campus. Hopevale provided residential treatment, foster care and family programming, and the school served 80 day students from the Buffalo area, but Hopevale’s closing jeopardized those services, along with 50 jobs. The consolidation, which saved $1.1 million from combined operations, required state legislation.
For a look at all the commercial real estate deals over $200,000, go online to BN DataBuff at buffalonews.com.