Cushman & Wakefield’s Metropolitan Capital markets Group has announced their agency in the future development of Eastern Hills Mall located on 86 acres on the western border of the Town of Clarence. Cushman & Wakefield is marketing this in collaboration with Pyramid Brokerage Companies, and they are seeking to help the current owner find a suitable joint venture partner to assist in fulfilling a long-term vision in creating much more than a simple lifestyle center.
The property, located at 4545 Transit Road in Erie County, is one of Western New York’s premier retail locations. Providing the highest parking ratio of any Buffalo area mall, the mall is north of the junction of NY-78 with NY-5, and Main Street and is owned by a New Jersey-based developer.
“This is a great destination for Buffalo with hometown heroes who run highly successful restaurants and retail outlets. The next chapter for this mall wants to honor and recognize the part that local pride has invested in it,” noted Cushman & Wakefield’s Brian Whitmer, who is heading the assignment with Metropolitan Area Capital Markets Group members Andrew Merin, Seth Pollack, Kubby Tishler, Joyce McKnight and Ben Burruso.
“Town officials are enthusiastic about the potential of this property being transformed into a lifestyle center and are ready to go ahead with the necessary zoning,” Whitmer added. “The location is a mixed-use destination, which gives locals a new place to live, work and play.”
Eastern Hills Mall lies along an extensive commercial strip in very low hills bordering on the Onondaga Escarpment with two long wings running north and south and one short wing running east and west. Besides well-established local banks, restaurants, gift shops, spas, martial arts and fitness centers, it is home to larger chains such as JC Penney, Sears, Bath & Body Works, The Bon-Ton, Sephora, Spencer Gifts, Sterling Optical and Verizon Wireless.
Such a redevelopment would combine many real estate uses including retail, residential, office, hotel, restaurants, entertainment, health and educational services – a huge undertaking requiring capital and strong leadership.
Based in East Rutherford, N.J., the Metropolitan Area Capital Markets Group specializes in investment sales of office, industrial, multi-family, land and retail properties throughout New Jersey, New York, and Fairfield County, Connecticut. The team has completed more than $26 billion worth of transactions since 2000, closing over $3.2 billion in sales in 2016.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment and asset management (DTZ Investors), project and development services, tenant representation, and valuation and advisory. To learn more, visit www.cushmanvakefield.com or follow @CushWake on Twitter.
