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Brokerage
Posted: December 3, 2019
Reich Brothers closes on $10.325 million sale and leaseback
Buffalo, NY Reich Brothers has acquired a 205,000 s/f distribution center via a sale leaseback deal.
Reich Brothers acquired 500 Bailey Ave. from Robinson Home Products for $10.325 million and subsequently leased the facility back to Robinson Home Products.
The property is off I-190 and Rte. 62. The building totals 205,000 s/f on seven acres, 50’ clear height, 12 dock-high doors, 100 parking spaces, and an ESFR sprinkler system. The property is west of Buffalo Niagara International Airport and 20 miles south of the Canadian border, and near Amazon’s 500,000 s/f fulfillment center.
“We are pleased to announce our first acquisition in the Buffalo market. Buffalo’s logistics market is blessed with built-in demand due to its proximity to Canada and we believe we have acquired one of the better distribution facilities in the surrounding submarket. Robinson Home Products has been a Buffalo based company for approximately 100 years and we look forward to seeing Robinson’s historical success continue at our site for many years to come,” said Matthew Reich, acquisitions associate at Reich Brothers.
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