McGuire Development is taking over responsibility for real estate leasing and property management at Airport Commerce Park, a large business park on Cayuga Road in Cheektowaga, just west of Buffalo Niagara International Airport.
The 62-acre park consists of 10 buildings and 550,000 square feet of office, warehouse and air cargo operations. More than 40 tenants are located there, including Dunn Tire, Graybar, FedEx and the U.S. Postal Service.
"It is a strategic location," said James F. Dentinger, president of McGuire Development. "It is central to everything."
The park is about 90 percent full and contains about two acres of undeveloped land, suitable for a 45,000- to 50,000-square-foot building. Dentinger said the air cargo market is a promising area of growth.
The McGuire and Ciminelli families have jointly owned the business park for more than 25 years. McGuire Development will assume its new duties effective Sept. 1 from the current manager, Ciminelli Real Estate Corp. The transfer of duties was included in the owners' agreement.
Excluding this deal, McGuire Development's portfolio consists of more than 2 million square feet of space. The company expects to add four jobs as a result of taking over Airport Commerce Park's management and leasing.