Ciminelli Development Co. has acquired the 31,000-square-foot Evanstown Plaza in Williamsville, the first retail property in its 6 million-square-foot real estate portfolio.
The development company bought the plaza near the Evans Street and Sheridan Drive intersection for slightly less than $2 million from a partnership that includes local businessman Frank McGuire.
The Ciminelli family and McGuire have done business before and are partners in the Air Cargo Center in Cheektowaga.
"We felt this was more in line with their long range goals than with ours," McGuire said about his decision to sell the plaza.
Ciminelli wanted this particular parcel, but has no plans to move into the retail property business, said James F. Dentinger, senior vice president of Ciminelli Development.
Evanstown Plaza is across Evans Street from Centerpointe, Ciminelli's flagship office park. About 1,500 people work in Centerpointe, with tenants including Independent Health Association, Solomon Smith Barney and the personnel agency Debellis & Catherine Associates
"This is a plaza where we think we can put in new amenities for the office park and do a lot of cross marketing for the office park," Dentinger said.
About 6,000 square feet in Evanstown Plaza is available. Ciminelli hopes to attract another restaurant to the plaza.
Evanstown Plaza is home to Sedano's restaurant, Manhattan Bagel, the McGuire Group Adult Day Care Center & Pharmacy and several stores.