Reich Brothers announces the closing of a sale leaseback transactions in Buffalo, NY totaling $10,325,000.
NEW YORK and LOS ANGELES and CHICAGO, Nov. 20, 2019 /PRNewswire/ -- Reich Brothers is pleased to announce the acquisition of a 205,000 square foot distribution center in Buffalo, NY via a sale leaseback transactions.
Reich Brothers acquired 500 Bailey Avenue Buffalo, NY from Robinson Home Products for $10,325,000 and subsequently leased the facility back to Robinson Home Products. The property is in the inner city Buffalo submarket directly off interstate 190 and Route 62. The building totals 205,000 square feet on seven acres and features 50' clear height, 12 dock-high doors, 100 parking spaces, and an ESFR sprinkler system. The property is just nine miles west of Buffalo Niagara International Airport, twenty miles south of the Canadian border, and within a few miles of Amazon's 500,000 square foot recently constructed fulfillment center.
"We are pleased to announce our first acquisition in the Buffalo market. Buffalo's logistics market is blessed with built-in demand due to its proximity to Canada and we believe we have acquired one of the better distribution facilities in the surrounding submarket. Robinson Home Products has been a Buffalo based company for approximately 100 years and we look forward to seeing Robinson's historical success continue at our site for many years to come," said Matthew Reich, Acquisitions Associate at Reich Brothers.
Media Contact:
Matthew Reich
| 914-719-6068|
[email protected]
SOURCE Reich Brothers Holdings, LLC
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