McGuire Dev. to begin phase one of 60,000 s/f ctr.
McGuire Development Co. will start construction on phase one of the Wehrle Professional Center. The pediatric center will feature 60,000 s/f of office space for medical tenants. The site is located on seven acres of vacant land between Transit and Harris Hill Rds. McGuire Development is making a $10.5 million investment on the project. The site is located on an Empire Zone and McGuire Development is collaborating with the Lancaster Industrial Development Agency throughout the venture.
Physicians from the Williamsville Pediatric Center will occupy 11,000 s/f the first 20,000 s/f building to be built on three acres. The project cost for the first phase is $3.7 million.
The project team includes R&P Oak Hill as the construction manager and Carmina Woods & Morris as the architect. McGuire plans to start construction in the spring with occupancy to take place late 2009.
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
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