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Bids reviewed for shopping plaza

Wegmans and its real estate broker are reviewing offers for a Cheektowaga shopping plaza with a list price of $20 million.

Wednesday night was the deadline for bidders to submit offers for the property on Walden Avenue where Wegmans formerly had a supermarket and Chase-Pitkin home improvement store.

Michael Clark, director of retail services for CB Richard Ellis' Buffalo office, said multiple offers were received, but he declined to specify how many.

"It generated a significant amount of interest throughout the country," he said.

Jo Natale, a Wegmans spokeswoman, declined to comment on the sale process.

The Cheektowaga site is considered attractive to investors for a few reasons, including its stable tenant base, high visibility from the I-90, and access to a busy Walden Avenue retail corridor with Walden Galleria directly across the street.

Wegmans operated a supermarket in the plaza from 1991 until last October. The shopping center's five other tenants remain in operation: Burlington Coat Factory; Jared, a jewelry store; and three restaurants, Olive Garden, Smokey Bones BBQ and Fuddruckers.

About half of the shopping plaza's total space is vacant due to the closed supermarket.

e-mail: mglynn@buffnews.com

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