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Delaware North Looking at HQs Options

Delaware North Cos. is studying its office space needs.  The firm is currently headquartered in 110,000 sq.ft. of space in the south tower of Key Center.  According to Buffalo Business First, the company is exploring its options for when its lease runs out in 2015.  Alternatives include renewing at its current location or finding new space.  The company is said to be only considering “downtown” locations for its 350 employees.

According to Business First:

Delaware North is considering four options:
• Signing a long-term lease to remain at Key Center
• Moving into an existing building
• Building a new headquarters
• Moving into a build-to-suit office building

Company officials stressed that it’s not moving from its Buffalo base, where it was founded in 1915. 

Any new location – or Key Center, for that matter- will have to address Delaware North’s needs for greater flexibility, better space utilization and integration of new technologies, he [Charles Moran Jr., president and chief operating officer] added.

Delaware North’s corporate offices were located in the Butler Mansion until 1990 when the company moved to 438 Main Street downtown.  In 2000, the company moved to Key Center, building out and occupying the 11-story south tower that had been vacant for seven years after its completion.

Perhaps the only option of securing 100,000 sq.ft. of contiguous space is One HSBC Center which is losing several of its largest tenants in coming months.  Depending on Delaware North’s definition of downtown, several existing buildings and proposed renovations in the Larkin District could meet the company’s space requirements.

Developers will be more than happy to construct a new building to fit the company’s needs.  When law firm Phillips Lytle conducted a space search, Ciminelli Real Estate pitched a proposal for a new building at Main and Swan streets and Uniland proposed a building behind New Era Cap’s headquarters along S. Elmwood Avenue (below).  The law firm selected Benderson Development’s proposal for revamping the Donovan Building.  That renovation project is currently underway.

Delaware North is a partner in Terry Pegula’s proposed Webster Block project.  Pegula has not included an office space component in the project which is competing with Ellicott Development for rights to the City-owned site.  Adding a Delaware North headquarters to either proposal would make the City’s decision a no-brainer.

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Written by WCPerspective

WCPerspective

Buffalo and development junkie currently exiled in California.

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