Buffalo, N.Y. (WBEN) - A casual conversation between two friends led to Ellicott Development Co. buying four Buffalo parcels from Erie County Legislator Frank Todaro.
Ellicott, through its 4628 Group Inc. affiliate paid a combined $5.3 million for properties Todaro had owned at 292 South Park Avenue, 69 Fulton Street, 78 Fulton Street and 79 Fulton Street. All four had been owned by 290 South Park LLC that was controlled by Todaro.
The properties are anchored by Caliber Collision, who operates out of a 42,000-square-foot, 106-year-old building at 292 South Park Avenue.
Caliber has a long term lease for the building and will remain as Ellicott's anchor tenant.
"I always told Billy (Paladino, Ellicott CEO) that if he wanted the properties, I would be glad to sell them to him," Todaro said.
The county lawmaker bought the properties in 2015.
Todaro said he is using the funds from the sale to help finance other business ventures.
Caliber Collision, two years ago, bought Todaro's Collison Masters business but agreed to stay at the 292 South Park Avenue building.
Todaro said he believes Ellicott will be a good steward for the properties.
Ellicott has no immediate plans for the property other than to honor Caliber's long term lease.
"This is a company that really believes in Buffalo," Todaro said. "When they move into a neighborhood, they create a good buzz"
The property sits along South Park Avenue near the Seneca casino
The property sits along South Park Avenue near the Seneca casino
