Laub International, a Buffalo distributing, assembly and warehousing firm specializing in providing Canadian companies with an entry point to the U.S. market, has acquired a vacant warehouse and distribution facility on Dingens Street for $1.23 million.
Laub, acting through 173 Dingens Street LLC, bought the 3.54-acre property at 173 Dingens in Buffalo from Zappia LLC, an affiliate of the former Zappia Enterprises.
The property includes a 70,050-square-foot insulated warehouse and distribution building, with 4,250 square feet of office space, plus eight docks and five grade-level doors. The 24-foot-high, single story metal building was built in 1990 and is "in very good shape," said broker Ben Borruso of Pyramid Brokerage Co., who represented both sides of the deal with colleague David Seider, also of Pyramid.
Zappia is a former supplier of truck trailers and parts that merged with Blasdell-based Southside Trailer Service. After vacating the facility, the company had leased almost 50,000 square feet in the building to Rochester-based forklift company Binghamton Green, but when its lease ended, that company consolidated back into Rochester.
Midwest Transport also occupies some space in the facility, but the departure of Binghamton Green "made the building pretty much empty, which made it a viable candidate for a user," Borruso said.
The property was on the market for about a year, with an initial asking price of $1.75 million before it was cut to $1.6 million. "Our interest was strong on the market," Borruso said.
He said Laub plans to occupy the facility itself, but he declined to comment further on the company's plans.
Borruso and Seider are also marketing a vacant 2.4-acre, fenced, stoned lot that was part of the same property but was not acquired by Laub. Zappia is seeking $150,000 for that.
Separately, a Dollar General store located at 2890 Delaware Ave. in Kenmore changed hands. The property was acquired by JPE Amherst 1354 LLC from Joann Fanara for $293,000 on June 23. The identity of the buyer could not be ascertained.