A group of local investors bought a Southtowns self-storage facility, while West Seneca attorney Ralph C. Lorigo snapped up a Hamburg retail plaza, and out-of-town buyers purchased an industrial building and a car-repair shop in recent deals totaling more than $5 million.
Mark R. Wolbert and several business partners, through 1670 Southwestern Self Storage, paid $1.475 million to buy the 11.2-acre commercial property at 1670 Eden Evans Center Road in the Town of Evans from former owner Francis Myers, through Southwestern Storage Facility.
Developed in 1990, the facility has six storage buildings on the site, with 260 units in all and a total of 30,000 square feet of space for storage, as well as outside parking for boats and recreational vehicles. Wolbert said the new owners plan to keep the property as self-storage, but will update it.
Wolbert is director of business development for Paul Kolkmeyer's Priam Enterprises, but said that neither Kolkmeyer nor Priam are involved in the purchase.
- Lorigo paid $1.125 million to acquire Orion Plaza, a 20,550-square-foot retail shopping center at 5893 Camp Road in Hamburg from the original builders - Peter A. Liberatore Sr., Peter A. Liberatore Jr. and Carol Liberatore.Located on 2.3 acres, the single-story plaza was built in 1994 and is fully occupied with nine tenants, including the Woodbridge Learning and Childcare Center, Tax Wizards tax consultants, Omega Health & Wellness Club, the Allergy & Asthma Center of Western New York, and individual doctors.
- Brooklyn-based MEC Properties paid $1.125 million to buy an 18,800-square-foot industrial building at 495 Aero Drive in Cheektowaga from Lake Shore Savings Bank, which had taken possession of the 1.66-acre property. The one-story building, which includes 10,500 square feet of office space and the remainder as warehouse space, was constructed in 1967.
- A Phoenix, Ariz., real estate investor sold a leased Bridgestone-Firestone tire and auto repair facility within a larger Depew plaza to a boutique private equity and commercial development firm from Dallas. Four Rivers Capital, led by founders Justin Schoellkopf and James Mason, paid $1.4 million through FRC Genesis Fundsub I to buy the 6,595-square-foot lease in an "outparcel" building at Urbandale Plaza. The seller was Dick Meadowlawn, which was registered to a law firm.
The small building is adjacent to Urbandale, a 230,000-square-foot plaza anchored by Wegmans Food Markets, Grossman's Bargain Outlet and Hobby Lobby. Besides Firestone, three banks also occupy separate lots in the main plaza, which was built in 1987.