In what is viewed as a significant win for the Buffalo Lakeside Commerce Park - and by extension Buffalo and the entire region, a Pennsylvania-headquartered logistics firm will be investing more than $25 million to develop a 300,000-square-foot operations center in the Buffalo industrial park.
With the project, WavePoint 3 PL Inc. will be hiring at least 55 workers as its cements its presence in the region's logistic and warehouse operations landscape.
"You have to view this as a win," said Brandye Merriweather, Buffalo Urban Development Corp. president.
Buffalo Urban Development owns and developed the 250-acre Buffalo Lakeside Commerce Park that was once barren and overlooked industrial site that rings the Union Ship Canal just off of Route 5.
"It will fill a need," Merriweather said.
The Buffalo Niagara region has a dearth of warehouse and logistics space with a slightly more than 2% vacancy rate on more than 68 million square feet of developed space, according to a CBRE/Upstate New York report.
WavePoint has more than 20 locations in the northeast including ones in Pennsylvania and elsewhere in New York including one in Dunkirk.
The privately-held company handles a wide range of logistics-based operations including warehousing, third party logistics, packaging and order fulfillment.
WavePoint is working on an incentive package crafted by the Erie County Industrial Development Agency, whose directors are expected to vote on the incentives on Dec. 17.
If all the necessary Buffalo approvals are signed off on, construction could start in early 2026 and the operations center may be customer-ready by late 2026.