The nation’s leading developer of premier student housing developments, Landmark Properties, closed on its purchase of the former Lifetime Health Medical at 1185 Sweet Home Road in Amherst, New York.  The purchase price was $7,000,000.

The 29,744 sf medical office building was constructed 30 years ago on a 12.5 acre site adjacent to the Amherst Campus of the University at Buffalo.

Student housing developers from across the United States completed projects near and around the campus.  This site strategically borders the southwest side of the campus.

Cushman & Wakefield Pyramid Brokerage Company’s  David Schiller marketed the property for sale for the Seller, Excellus Health Plan, Inc.  It is the last of 7 properties sold including clinics on Grand Island, West Seneca, Hamburg, and Buffalo.  The clinics were operated by  Health Care Plan, then by its successor operation named  Lifetime Health.

David commented: “There were many student housing companies in hot pursuit of this site.  The medical users in the market also expressed serious  interest.   The best possible use for the property was clearly student housing.  The transaction’s price was very strong, bolstered by the intense demand.  The final price is a fair, accurate, arm’s length result.  The market works.”

CALL FOR MORE DETAILS ABOUT THE TRANSACTION