Tonawanda plaza sells for $4.5M

October 25, 2011 Updated Oct 25, 2011 at 8:07 AM EDT

By WKBW News
By Business First by James Fink, Buffalo Business First Reporter

October 25, 2011 Updated Oct 25, 2011 at 8:07 AM EDT

PDQ Kenleon Delton LLC of Hallandale Beach paid $4.5 million for the 55,473-square-foot plaza on Delaware Avenue, according to documents filed in the Erie County Clerk's office. The plaza had been owned by Del-Ton Station Inc., an affiliate of Phillips Edison, which had previously acquired it from Developers Diversified Realty Inc. Benderson Development Co. sold the plaza to DDR in 2004 as part of a larger series of real estate transactions.

The early 1970s era plaza includes such tenants as Rite Aid, KeyBank, Valu Home Centers and Dollar Tree.

Property Management Associates of Western New York has been retained by PDQ Kenleon Delton LLC to manage the plaza. Only 2,900-square-feet of the plaza remains vacant.

PDQ Kenleon Delton's other local holdings include the Forest Stream Plaza in Depew and Holiday Village Plaza in Hamburg. The company's portfolio also includes property in the Rochester market as well as parcels in such states as Kentucky and Louisiana.

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