Grimsview Properties LLC recently paid $1M for the 88,000-square-foot Hamburg Industrial site in Buffalo, New York. The building has been closed since the previous occupant, National Envelope, ceased operations last year.
This is another positive case of a vacant building not staying vacant for very long. The Hamburg IDA approved a 15-year payment-in-lieu-of-taxes package to help finance the $1.3 million project. This will save an estimated $686,000 in various taxes during the 15-year abatement period.
To read the full article from Buffalo Business First, click here.