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WS Development takes control of Northtown Plaza site by buying former KeyBank branch

The owners of the Northtown Plaza in Amherst have paid $550,000 for a former KeyBank branch within the shopping center from the bank.

The bank branch at 3051 Sheridan Drive was next to the former Payless ShoeSource in a low-slung retail building along the western side of the plaza. It was a First Niagara Bank branch and an HSBC and Marine Midland branch before that.

The sale between KeyBank and Northtown 3051 Sheridan Owner LLC closed on Monday, according to a document filed with the Erie County Clerk's Office. A person familiar with the transaction confirmed WS Development, the owner of the plaza, purchased the bank branch.

The 5,500-square-foot bank branch historically had separate ownership from the rest of the plaza, which WS Development bought in 2015. WS already owned the branch's drive-through, located in the middle of the plaza, making it unlikely another bank would be interested in buying an in-line branch that lacks a drive-through. Pyramid Brokerage listed the property.

KeyBank closed this branch in December. It continues to operate a stand-alone branch located near Whole Foods in the plaza.

WS Development has said it soon will begin demolition of the retail buildings in the plaza as part of its planned overhaul of the shopping center.

See the Northtown Plaza developer's plan for 'open-air lifestyle center'

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