A Lancaster developer who is already working on a project in the village has acquired a Cheektowaga retail plaza on Walden Avenue with four tenants for $1.375 million.
Tommy Sweeney, owner of Glassco Management, bought the 1-acre strip center through his limited-liability company, Upstate Apartments. The seller was Rene D. Riffel, trustee of the the Marvin Spindelman Family Trust, which had owned it for almost 23 years.
The 13,700-square-foot plaza includes the Good Feet Store, a Subway restaurant, Xtreme Mattress and Saf-Guard.
"I think it's a great location, especially with that Chick Fil-A there. That's going to really increase traffic flow, and the Galleria Mall is not far away," said Charles Scaccia, a real estate agent with Hastings Cohn Real Estate, who handled the deal along with Alan Hastings. "It's near probably the busiest intersection in Western New York."
Sweeney, who is also a vice president at M&T Bank, is planning a $16 million development on West Main Street in Lancaster, with a mix of boutique shops, restaurants and up to 48 mid-range to upscale apartments. He acquired the properties last year from the village's Community Development Corp. for $925,000, including a Save-A-Lot store, a former BOCES building and a parking lot.
The developer's plans include construction of 12 to 15 three-story brick buildings, with commercial and service businesses on the ground floors and apartments on the upper floors. Sweeney, a member of the village's Historic Preservation Commission, already owns more than 140 suburban apartments, and restored two historic properties on West Main Street.