News

SOLD! A 29,744 sf medical office building adjacent to the Amherst Campus of the University at Buffalo.


Date Posted: July 22, 2019

The nation’s leading developer of premier student housing developments, Landmark Properties, closed on its purchase of the former Lifetime Health Medical at 1185 Sweet Home Road in Amherst, New York. The purchase price was $7,000,000.

The 29,744 sf medical office building was constructed 30 years ago on a 12.5 acre site adjacent to the Amherst Campus of the University at Buffalo.

Student housing developers from across the United States completed projects near and around the campus. This site strategically borders the southwest side of the campus.

Cushman & Wakefield Pyramid Brokerage Company’s team led by Rochester’s Daniel O’Neill SIOR and his local marketing agent in Buffalo, David Schiller SIOR, marketed the property for Excellus Health Plan, Inc. It is the last of 7 properties sold by Daniel and Dave in the Buffalo area market. Previous sales included clinics on Grand Island, West Seneca, Hamburg, and Buffalo, and one warehouse facility in West Seneca. The clinics were operated by Health Care Plan, then by its successor operation named Lifetime Health.

Ben Borruso represented the buyer, Landmark Properties.

Dave commented: “Medical users expressed great interest in the site. However, there were many student housing companies in hot pursuit. The highest and best possible use for the property was clearly student housing. The transaction’s price was very strong, bolstered by the intense demand. The final price is a fair, accurate, arm’s length result. The market works.”

‹ Back to News