Williamsville, NY McGuire Development Company, a local commercial development, real estate consulting and property management firm, announces the sale of 5117 Sheridan Dr. to Iskalo Development for $715,000.
The 3,340 s/f free standing building is located on 1.33 acres and was previously operated as a Burger King restaurant.
James Geiger of McGuire Development represented the seller, 5117 Sheridan Drive LLC, and facilitated the sale.
McGuire Development Company is a full service commercial development and real estate firm specializing in real estate services, development, property management, owner representation and brokerage.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,