Uniland Development and GEICO reach agreement for lease expansion

Uniland president and managing director, Carl Montante (left) with GEICO chairman and CEO, Tony Nicely

Amherst, NY One of western New York’s most prominent business parks is growing yet again now that Uniland Development Co. and GEICO have agreed to terms enabling the insurer to expand its operations and add 600 new jobs at CrossPoint Business Park.

GEICO will begin leasing the 86,000 s/f office space at 150 Cross-Point in October. The property is a short distance from GEICO’s Buffalo Regional Office at 300 CrossPoint Parkway. GEICO has leased its regional office from Uniland since 2005 when it opened with 300 employees. Today, more than 2,700 employees work in the 256,728 s/f facility. Uniland sold the property and 22 acres around it to GEICO for $23 million in April.

“The addition of 600 new jobs is no small thing and is a major local development success story,” said New York governor Andrew Cuomo. “The expansion of GEICO is proof positive that our strategy of capitalizing on regional assets to attract top-level private investment and leverage job growth is working.”

Uniland so far has invested $500 million in construction and equipment to develop the 200-acre site. CrossPoint is a Build Now–NY/Shovel Ready Certified site that has grown to 25 businesses–such as GEICO, CitiGroup, Fidelis Care, M&T Bank, BlackRock and Columbus McKinnon–with nearly 9,000 employees, the majority of which are newly created jobs. The firm expects to have invested $1 billion resulting in 20,000 jobs by the time the site is fully developed.

Since opening the park in 1999, Uniland has paid more than $15 Million in real estate taxes.

“We are gratified that clients such as GEICO and Fidelis can grow at CrossPoint and that is one of the advantages of locating here and working with Uniland,” said Michael Montante, Uniland vice president. “We are adept at understanding the needs of Fortune 500 companies, guiding them through the real estate process and investing in those long-term relationships.”

CrossPoint has more than 40 acres available for development. The park features an excellent location near major commuting routes and the University at Buffalo, and has a robust power and fibre optic infrastructure and access to low cost utilities. It also offers a retail plaza and on-site day care facility.

Uniland Development Company is a leading builder, developer, owner and manager of commercial real estate in Western New York that has developed more than 13 million square feet of commercial and residential space in the Buffalo-Rochester corridor. Uniland offers expertise in development, planning and design, construction, financing, leasing, property management and building maintenance. In addition to constructing a variety of building types for clients (educational, institutional, hospitality and faith-based), the firm owns and operates more than six million square feet of office, industrial, flex, retail, and multi-family residential properties. Established in 1974, Uniland has earned a reputation for results due to its commitment to quality and ability to exceed customers’ expectations.