A Clarence shopping plaza anchored by OfficeMax and Jo-Ann Fabrics has been sold to a Brooklyn real estate investor in a $9.3 million deal.
An entity controlled by George Butsikaris Realty purchased the plaza at 4101 Transit Road from an affiliate of DDR Corp., a Cleveland-based real estate investment trust that has been steadily selling off its holdings in the Buffalo Niagara region, according to records filed with the Erie County clerk.
The plaza is anchored by a Jo-Ann Fabrics store and an OfficeMax store, along with a Big Lots store. The 92,700-square-foot plaza had been on the market with an asking price of $10.4 million.
The plaza is one of several that DDR acquired in 2004 as part of a giant real estate transaction with Benderson Development Corp.