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Brokerage
Posted: September 4, 2015
Schiller of Cushman & Wakefield/Pyramid completes $2.35m sale; 1100 Military Road sold to Speed Global/Innovative Integrated
1100 Military Rd., the former Tzetzo Brothers Company building, was sold to a logistics group consisting of Speed Global Services and Innovative Integrated Solutions LLC. It is a 189,000 s/f food grade warehouse and distribution center. The sale price was $2.35 million.
Tzetzo was acquried by First Source, for whom Zaepflel Development is constructing a new 317,000 s/f facility in Tonawanda.
Speed Global Services is an asset based trucking company, 3rd party logistics provider, international freight forwarder, warehouse and distribution company that provides cross border transportation solutions. Speed Global Services teamed with Innovative Integrated Solutions, a contract packaging fulfillment and package supplier Carl Savarino co-owns with Joseph Berti and George Moretti, to provide a food grade warehouse with plans to develop a pharmaceutical grade warehouse along with packaging supplies.
John Ticco III with Cushman & Wakefield/Pyramid Brokerage Company listed the property for sale. David Schiller SIOR, also from Cushman & Wakefield/Pyramid Brokerage Company represented Savarino, president of Speed Global Services.
"There was interest in the property from both users and developers - the new, higher bay warehouse space is some of the best distribution space in the market," said Ticco. Schiller said, "The industrial market in Western New York is short on supply of buildings to purchase, and long on demand by prospective users."
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