In a deal that has been in the works for the past few months, an Ellicott Development Co. affiliate has officially acquired the former Hein Publishing Building on Main Street, near the northern edge of the Buffalo Niagara Medical Campus.
Ellicott Development, through its 1285 Main LLC affiliate, paid $2.1 million for the 80,000-square-foot building located at 1285 Main St., according to documents filed in the Erie County Clerk's office. The building had been owned by Hein Bldg Inc.
Hein put the building on the market earlier this year after it decided to move to Amherst.
"There was strong competition for it," said Ben Schiller, a broker with Pyramid Brokerage Co. of Buffalo, who represented Hein Publishing.
The nearly century-old building has gone through various uses including serving, at one time, as an auto dealership.
Paul Gregory, a top executive with Ellicott Development, said the building will be used strictly for commercial tenants, some playing off the nearby Buffalo Niagara Medical Campus.
Erie County Medical Center has agreed to lease 12,000-square-feet for a specialized chemical dependency unit that's moving elsewhere from Main Street. Negotiations are underway with prospective tenants.
Ellicott Development plans on spending $8 million to renovate the building.
"We have no plans to put residential units in there," Gregory said.
Ellicott Development was represented in the deal by Alan Hastings from Hastings Cohn Real Estate.