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Ulrich sells City Centre to Sinatra and Co.

by TSchmitt
Tue, Jun 25th 2013 10:00 am

After rebuilding the heart of downtown Lockport nearly a decade ago, local developer David Ulrich has sold the property that bears his name.

The Ulrich City Centre was sold to a Tonawanda developer for just over $3.5 million. 

Buying the 13-storefront property was Sinatra & Company Real Estate, which has a number of holdings throughout Western New York, including a pair of apartment complexes here in Lockport.

One of the bonuses for the incoming group was the transfer of the final eight years of a 15-year tax break the county's IDA gave to Ulrich when he opened the center. The new owners will use the name Lockport Retail Group.

Current tenants include Hunt Real Estate, Senator George Maziarz, Lock 34 Restaurant, and Empire State College.

Ulrich, however, had put the property on the market back in 2011, saying it wasn't profitable . 

 

 

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