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Big Deal: Uniland Buys Delaware Court Building

A subsidiary of Uniland Development Company has paid $3 million for the northwest corner of Delaware Avenue and Chippewa Street.  BTC Block 20 Inc. paid $2.95 million for the circa-1917 Delaware Court Building at 234 Delaware Avenue, a two-story curved façade building with 54,612 sq.ft. of space and surface parking lot.  Delaware Court GP was the seller.  233 S. Elmwood Avenue, a “J”-shaped parcel at the corner of S. Elmwood and Chippewa was purchased for an additional $50,000.  A Valero gas station along S. Elmwood was included in the sale.
The combined parcels are approximately 2 acres and front Delaware, Chippewa and S. Elmwood.  It is one of the largest single-owned parcels in the central business district.  The properties are just north of Uniland’s Avant project and south of its 285 Delaware office building.  


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According to Uniland Vice President Michael Montante, the company plans to restore the building while considering long-term plans for the site.  Uniland plans to incorporate the existing façade into the any future designs.
 
“A Delaware Avenue address is in high demand and synonymous with prestige in business both yesterday and today,” said Montante.  “Whether the uses are office, retail, or residential, this site calls for something special, something unique, with a mix that meshes old with new.”
 
Though it will take time to develop a suitable plan for the parcel, Uniland is already working with different users, some of them large users, and expects to have plans finalized within the next few months. Montante continued, “It is extremely difficult to assemble two acres of land in such a central location and this foot print allows us to be very flexible with our development plans.”
 
In addition to discussions with potential users, Uniland is also meeting with City of Buffalo officials regarding their effort to further invest in streetscaping and beautification at the property.
 
The properties were listed by Tyler Balentine of Pyramid Brokerage Company.
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Written by WCPerspective

WCPerspective

Buffalo and development junkie currently exiled in California.

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