A former Monro Muffler and Brake on Sheridan Drive in the Town of Tonawanda has sold for $2 million to a Kansas-based property management firm, public records show.
The auto service and tire center at 2980 Sheridan, at Niagara Falls Boulevard along the Tonawanda-Amherst border, closed a couple of weeks ago, according to an employee at another Monro location.
Monro had purchased the high-visibility property in 2006.
The buyer is Plaza Street Partners, located in a suburb of Kansas City, Mo. The Kansas City Business Journal describes the company as a build-to-suit development firm.
Plaza Street Partners bought the 1-acre property in a transaction that closed Thursday afternoon.
Town officials said they don't know what the company plans to do at the former Monro site.
A map on the firm's website shows it has 13 remodeling projects completed or in progress in New York, along with six new-build KFC fast-food restaurants.
Bret Elliott, president of Plaza Street Partners, said this the firm's first deal in the Buffalo area and it looked for a few years to find the right property to buy in this area.
He said the company hasn't decided what retail or restaurant tenants will take over the site, though it it working with Caliber Commercial Brokerage in Rochester to market the site and it has several interested parties.
Plaza Street Partners said it works with a number of franchisees of Yum! Brands, which includes KFC, but Elliott said this property will not host a Yum! Brands restaurant.