CHEEKTOWAGA, N.Y. (WBEN).....Long Island-based investors, Gould Cheektowaga LLC, have acquired a Cheektowaga building whose sole tenant is staying put and considering a lease extension.
Gould Cheektowaga paid $6.2 million for the 84,000-square-foot building at 25 Dewberry Lane, buying it from Houston-based commercial real estate investors CDI Moriah NY.
The building is anchored by Grief Industrial Products, who has three years remaining on its lease and will staying put.
Grief, who moved from the Town of Tonawanda to the building three years ago, is considering extending its lease, sources said.
CDI Moriah paid $5.78 million for the building four years ago - meaning its value has increased 7.2% in the past 48 months.
In other commercial real estate news:
The Lackawanna Yemen Soccer Club bought three properties along Ingham Avenue in Lackawanna from the Diocese of Buffalo, paying a total of $510,000 for land.
Lackawanna Yemen has soccer fields on the property that was home to the now-closed St. Anthony's Church.
Dewberry Lane building sells for $6,2 million
Dewberry Lane building sells for $6,2 million
