Home > About BNE > Press Room > 2009 Archive > July > WNY is Stable Market for Warehouse/Manufacturing Opportunities

WNY is Stable Market for Warehouse/Manufacturing Opportunities

The Western New York market has an abundance of warehouse/manufacturing space in all sizes and prices including shovel-ready land, brand new quality spec products, and existing facilities that can accommodate up to 1.5 million square feet of space.

In general, lease rates vary in price from $1 net per square foot up to $8 net per square foot for quality warehouse space.

A quick drive through Buffalo and its suburbs will reveal some of the areas most valuable assets including its solid infrastructure. With four major highways and two international bridges that service truck traffic, the Buffalo region is positioned as an international gateway for business.

The bulk of the available space is located in the City of Buffalo and surrounding suburbs with a partial list including Tonawanda and Cheektowaga and high tech space in Amherst. However, the region as a whole has a good inventory with a variety of positive assets associated with each.

In addition to choice space in the Western New York market, organizations can take advantage of a number of competitive economic incentives including Empire Zone benefits, ESD (Empire State Development), NYSERDA (New York State Energy Research Development Authority) and IDA Agencies (Industrial Development Agency – located in each county in New York State) which partner with the BNE as part of its regional economic team. Incentives and bond financing may also be available through many of the local industrial development agencies.

Just as there is an abundance of larger warehouse/manufacturing space, there are also a number of incubator-style opportunities for companies looking to start with a smaller presence in the Western New York market.

Overall, Western New York’s stable economic climate has created stability in the availability of warehouse/manufacturing space and the employment opportunities that accompany it.

McGuire Development Company, LLC, specializes in brokerage, property management, development and redevelopment. Our organization is different by choice, and we operate with a TRANSPARENT philosophy. This means we strive to provide all necessary details to clients so they can make fully informed business decisions. For more information, please contact us at (716) 829-1900 or visit www.mcguiredevelopment.com.