New Exchange St. office building planned
By SHARON LINSTEDT
News Staff Reporter
11/10/2006
The development group that successfully converted a 600,000-square-foot warehouse on Exchange Street in Buffalo to a Class-A office building is planning a new-build project across the street.
CityView Properties, which took the commercial development community by surprise by filling all but 50,000 square feet of the sprawling Larkin at Exchange building in just less than four years, now plans a three-story, 75,000-square-foot office building at 725 Exchange St. The development team, led by Howard Zemsky, is seeking $8 million from the Erie County Industrial Development Agency to aid the $13.5 million project.
Zemsky could not be reached to comment.
Documents filed with the ECIDA describe Mill Race Commons as a Class A office building that will complement the much larger Larkin at Exchange located directly across the street. CityView anticipates the new building will create 10 to 20 new jobs, and attract some 300 to 500 workers to what Zemsky calls the "Larkin District."
CityView has not revealed whether they have a specific tenant planned for the new office building.
The investment group purchased the former Graphic Controls building, which started its life as a Larkin Soap Co. warehouse, in 2002 and converted it to state-of-the-art office space in a location better known for industrial space. Over the past four years, CityView has filled the off-the-beaten-track building with "A list" tenants, including insurance companies, law firms, government agencies and an advertising firm.
In addition to Larkin at Exchange, CityView's portfolio also includes: City Centre condominiums in the 600-block of Main Street, The Root Building on Chippewa Street, and a new-build office building at the corner of Main and Chippewa streets which debuted in 2005.
The development group has purchased nine properties in the Exchange Street/Van Rensselaer Street neighborhood over the past few years.
Zemsky is also involved in Upper Canada Hotels, a group of boutique inns located in Niagara-on-the-Lake, Ont. He is also past chairman of the Darwin Martin House Restoration Corp.
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