What's Happening?
Northmarq's Los Angeles Commercial Investment Sales team has arranged the sale of an industrial property located at 2575 Broadway in Cheektowaga, New York, for $3.64 million. The buyer is a family office
based in Orange County, California. The facility, built in 1998 and renovated in 2024, is a single-tenant, triple net lease property occupied by Reimer Heating, Cooling & Plumbing. The property is strategically located near major thoroughfares and is approximately five miles from downtown Buffalo.
Why It's Important?
The sale of the Buffalo-area industrial facility highlights the strong demand for single-tenant triple-net industrial assets. Investors are actively pursuing well-located facilities backed by solid real estate fundamentals, as evidenced by the multiple offers received for this property. The transaction underscores the attractiveness of industrial real estate investments, particularly in regions with robust infrastructure and accessibility. This sale may encourage further investment in the Buffalo area, contributing to local economic growth and development.
