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Commercial listings going online

Business First of Buffalo - 3:08 PM EST Thursday, February 15, 2007

by James Fink

Business First

The region's first independent listing of commercial real estate properties is about to become a reality.

The New York State Association of Commercial Realtors Buffalo Chapter and the Buffalo Niagara Enterprise are introducing an online regional listing of commercial properties. The site should be ready by April.

A regional listing is considered an essential tool in commercial real estate and development circles.

Out-of-town site selectors frequently rely on such services as part of their primary due diligence of a region. The Buffalo Niagara region is one of the few major metropolitan areas in the country that doesn't provide such a service.

"We're actually playing catch-up here," said Thomas Kucharski, BNE president and CEO.

"This is part of the product we need to be competitive. This is as critical as anything else we do," he said.

The site, which can be accessed from either the BNE or the NYSCAR Web sites, will offer an overview of commercial properties available in the region, ranging from vacant land to shopping centers, office buildings and hotels.

The Buffalo Niagara Association of Realtors, which has long operated a regional residential multiple listing service, will administer the site.

A Web address will be established this spring. NYSCAR members can list properties for an annual fee projected to be in the range of $450 to $500. Public access to the listings will be free.

David Brody, a Buffalo attorney and co-chairman of NYSCAR's Government Affairs Committee, said at least 50 real estate brokers have agreed to put their listings on the network. Brody expects more than 100 commercial brokers will eventually participate.

"This is a major step forward in the transaction world," said Peter Hunt, chairman of Hunt Real Estate Corp.

"It will bring some order to the marketplace," he said.