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Transportation museum owner buys Exchange Street properties

The owner of the Buffalo Transportation Pierce-Arrow Museum has acquired a pair of Exchange Street parcels, adding to his portfolio of real estate near downtown Buffalo where he stores his car collection and eventually plans an expansion.

James Sandoro, through the museum, paid $4.299 million to purchase the 2.2-acre property at 186 and 196 Exchange from Buffalo NY SSA LLC, which is registered to Saban Capital Group's Saban Real Estate LLC, a Los Angeles-based real estate investor that focuses on government office buildings.

The site features a one-story steel office building that houses the U.S. Social Security Administration's local office, as well as the U.S. Railroad Retirement Board. Formerly located in the Federal Building, the Social Security office moved to the 35,349-square-foot facility at the corner of Exchange and Carroll streets in August 2005.

Built in 2003 and formerly owned by Uniland Development Co., the property also includes 40 parking spaces. It's directly behind the museum, at 263 Michigan Ave.

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