The former Royalite Plaza, a popular Amherst shopping center, has been acquired by local developer E. Richard Gicewicz.
Gicewicz, through his Falcon Land Development LLC, paid $1.395 million for the 23,627-square-foot Sheridan Drive plaza located near Great Skate Hockey Co. and a recently opened Walmart supercenter. The plaza had been owned by the Gottesman Trust, according to public records.
The Gottesman family sold Royalite to Shanor Electric Supply in early 2008.
Shanor remains an anchor tenant in the plaza.
The plaza, which is fully leased, attracted a number of interested parties, said David Schiller from Pyramid Brokerage Co. of Buffalo, who handled the sale with his son, Ben.
Shanor occupies the plaza's main building at 3355 Sheridan Drive while a second building, at 3333 Sheridan Drive, has PC Expanders, Beauty Essence and Buffalo Picture Frame as tenants,
Ben Schiller has also negotiated a trio of leases to bring Mattress & More of WNY, Vineeta International Foods and Nicquid Vapor to the plaza.