News:
Brokerage
Posted: September 6, 2016
McGuire Development leases 50,000 s/f to C&M Forwarding Co. at Concourse Center
Concourse Center on Genesee Street - Cheektowaga, NYCheektowaga, NY McGuire Development Company, a local commercial development, real estate consulting and property management firm, has completed a 50,000 s/f lease at the Concourse Center on Genesee St. to C&M Forwarding Co. C&M Forwarding will be taking over the space recently vacated by FedEx after the opening of its new hub in Hamburg.
C&M Forwarding Co. is a Rochester-based freight forwarding company that provides warehousing and transportation services. The Concourse Center will be C&M’s first location in the Buffalo-Niagara region. The company will utilize this location to better serve its clients in Canada and the Midwest.
McGuire Development brought the Concourse Center into its portfolio in the fourth quarter of 2012 at 43% occupancy. Since that time, the company has completed a series of capital improvement projects which have included a new roof and aesthetic improvements. This long-term lease maintains a 98% occupancy rate.
McGuire Development also has plans to construct a new 50,000 s/f building on an outparcel at the Concourse Center.
The region has seen an increase in demand for flex, warehouse and industrial space, while supply has remained relatively low.
“The Concourse Center is the most accessible warehouse building in Western New York,” said Jim Dentinger, president of McGuire Development. “With its driveway being only 500 ft. from the entrance to the Kensington Expressway and less than one mile from the New York State Thruway, our tenants have found it to be an incredibly easy and efficient location to do business.”
McGuire Development holds additional warehouse space in the region including Airport Commerce Park, located adjacent to the Buffalo Niagara International Airport and is responsible for much of the air freight shipping activity into and out of the region.
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.
Tags:
Brokerage
MORE FROM Brokerage
Hanna Commercial Real Estate brokers Agri-Plastics 64,000 s/f manufacturing facility lease at Uniland’s 2 Steelworkers Way
Lackawanna, NY Agri-Plastics, a global leader in the manufacturing of plastic products for agricultural, industrial, recreational, environmental, and home industries, has signed a 64,000 s/f lease to open a
.jpg)
Quick Hits
.gif)
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
.gif)