Iskalo Development is adding to Amherst's stock of office space with a $10 million project at the northern edge of the University at Buffalo campus.
An Iskalo real estate unit on Friday bought 2.5 acres for the project on North Forest Road at the Audubon Parkway.
The land cost was $455,100, according to Erie County property records. The sellers are the owners of the Ramada Hotel and Conference Center, formerly the University Inn & Conference Center.
Plans call for an L-shaped, two-story building and about 200 parking spots, 51 of them underground.
"We're seeing high occupancy rates throughout our leased office space portfolio," developer Paul Iskalo said.
The developer has a number of properties in the suburban town as well as the Electric Tower, the former Niagara Mohawk building in downtown Buffalo.
Groundbreaking at the Getzville site on North Forest is scheduled for this spring, with occupancy to follow in the spring of 2008.
The "class A" space will take advantage of a tightening market for corporate rentals in Amherst, Iskalo said. He expects multiple tenants to absorb the building's 52,000 square feet of space.
"We also think there will be some synergies between our building and the hotel," he said. The hotel's peak parking times are at evenings and weekends, while the offices will see most traffic during weekdays, opening the possibility for shared parking deals, he said.