CBRE Group, Inc. (CBRE) has arranged the sale of the Ingram Micro East Coast Headquarters complex, an office campus located in suburban Buffalo, to American Realty Capital Properties, Inc. (ARCP ), a Real Estate Investment Trust, for $24.5 million, or $123 per s/f.
CBRE's Edward Midgley and Dan Kaplan of the firm's New York office, represented the owner, Winthrop Realty Trust along with V. Jeffrey LiPuma and Bob Starzynski of CBRE's Buffalo office.
According to Midgley, the sale of the two-building, 200,075 s/f campus is indicative of a trend where institutional investors are expanding their geographic horizons in the search for quality real estate with attractive returns.
The 21-acre corporate headquarters campus is located near the New York State Thruway (I- 90) and the Buffalo Niagara International Airport and commands premium frontage along Werhle Dr. and Youngs Rd. The Ingram Micro East Coast Headquarters campus complex consists of two buildings, totaling 200,075 s/f. 1759 Wehrle Dr. is the larger building and has a two-story glass atrium that connects the two phases of the Ingram Micro building, encompassing 170,346 s/f. 395 Youngs Rd. is a 29,729 s/f single-story building also occupied by Ingram Micro. Tags: