Adjoined buildings at 523 Main Street and 500 Washington Street were sold Friday for $700,000. 523 Main St/500Washington St LLC purchased the buildings from Roger J. Trettel’s New 500 Block LLC. The buyer is Buffalove Development. The two buildings include 10,185 sq.ft. of space.
According to Bernice Radle, Founder and CEO of Buffalove Development, 523 Main Street – also known as ‘The Ruth’ – is currently half empty. Her plan is to get the economic ball rolling by dedicating the ground floor to ‘small scale micro pop up like spaces.’ Altogether, there will be ten micro spaces, as well as an 850 sq.ft. retail space facing Main Street.
Along with the available storefront and micro pop-ups, the first floor also features bathrooms, storage, and a meeting area. Radle explained that these commercial micro units are designed to be affordable launch spaces, with utilities included.
“With the electric energy that is radiating from the 500 Block of Main Street and the re-opening of the Hyatt, adding micro retail spaces and an anchor tenant is a no brainer here,” stated Radle. “We really can’t wait to get started on this!”
More details regarding the plans and available space can be found at: www.buffalovedevelopment.com/523-main-street
Trettel purchased the buildings in 2013 and redeveloped them along with two other buildings he bought on the block for office and retail use. They were among the first buildings brought back to life on the strategically important 500 block which had been suffering from vacancies and lack of investment.
Today, the north end of the block is a mix of restaurants, offices, and residences. There’s more work to do including reuse of a long-vacant Burger King at Main and Mohawk, and a large surface parking lot behind it.