| The Building |
Over 1,000,000 SF of industrial buildings built from 1882 to 1928 on more than 60 acres. Structures included all-cement, all-wood, mill (brick & heavy timber) and brick with steel structure. |
| The Challenge |
Very large, obsolete, empty campus of buildings in a small city (population 14,000). The property was acquired by a private group focused on job creation and profit. |
| The Solution |
Opportunities were identified to subdivide and sell over 30 acres with almost 200,000 SF of buildings (to multiple buyers) to raise money for reinvestment while also reducing carrying costs. Since large employers could not be attracted to the site, it would take time to fill the space with the start-ups and small businesses that were now targeted. In the meantime, large blocks of space were rented for warehouse uses to fund operations and ongoing building improvements. A menu of business services and assistance was developed to help entrepreneurs succeed. |
| The Result |
The property filled and as tenants grew, they moved out into the community buying other empty buildings (or constructing new ones when they ran out of existing ones). Thousands of small businesses have been served and countless jobs created by the success of this project that has come to be recognized as the world’s first business incubator (the Batavia Industrial Center in Batavia, NY). |
