Union Consumer Square at 3733-3735 Union Road in Cheektowaga, New York — Courtesy: Progress Realty Partners
By Joshua Burd
Progress Realty Partners has acquired a 385,000-square-foot retail center outside Buffalo, New York, as it looks to build its portfolio in growing markets outside New Jersey.
Based in Tinton Falls, the private equity firm paid $43.25 million for the Sam’s Club-anchored property at 3733-3735 Union Road in Cheektowaga. It touted the deal as the largest transaction in Erie County since 2021, citing Buffalo Business First, calling it a significant addition to its holdings in the greater Buffalo region.
Union Consumer Square is also the first retail property occupied by Sam’s Club to be sold in the past five years, Progress Realty said, citing CoStar data.
“To say we’re excited is an understatement,” said Dan Salonis, co-principal of Progress Realty Partners. “This acquisition reflects our ongoing commitment to investing in retail properties that offer a mix of strong national tenants and convenient accessibility for local consumers.”
Tenants at Union Consumer Square also include Ross Dress for Less, Ulta Beauty, Marshalls and LA Fitness, among others, according to a news release. Progress Realty said the property is a major retail destination in the area, attracting a steady flow of customers from Buffalo-area communities and beyond.
“The tenant synergy is one of the main attractions that led us to buying Union Consumer Square,” said Adam Dickert, co-principal of Progress Realty. “It’s rare to have an opportunity to acquire the top-performing retail center in a market like Buffalo, so adding this asset to our portfolio is tremendous.”
