WILLIAMSVILLE, NY, December 2006 - North Forest Office Providers is pleased to announce that construction is underway on an 18,228 square foot “spec" office building in the Stonegate Office Park. 8207 Main Street is the second “spec" office building being constructed at the Stonegate Office Park this year. The first, 8205 Main Street, was completed in October, and is already nearing full occupancy.
Traditionally, an anchor tenant signs a lease and then the building is constructed. Building on speculation, or “spec" means that the building is constructed before tenants have been signed to occupy it, and is considered by most developers to be a risky venture. But because North Forest believes that “if you build it, they will come," they construct all of their office buildings on “spec" This philosophy has paid off for North Forest; they have been able to fill most of their buildings within a year of construction.
“We have confidence in what we have to offer to the local market," states Bill Hamilton, CPA, Chief Financial Officer of North Forest Office Providers, “and that confidence allows us to take the risk associated with ‘spec’ buildings. This way we will always have space to offer, and we can turn around finished offices in a short amount of time. That is extremely attractive to customers who need space right away."
Leasing at 8207 Main Street is currently underway for occupancy in Spring 2007, with professional and medical space available from 651 to 18,228 square feet. Lease rates start at $14.15 per square foot and include taxes and CAM. North Forest Office Providers expects to attract both new and growing businesses to the building because North Forest offers the kind of flexibility that these companies need, including short term leases and expansion options.
North Forest Office Providers has over 20 years of experience in building, leasing, and managing office parks. North Forest is known for its innovative “modular" approach to office space, which has allowed them to cater to office users of all sizes. Their selection of standard office layouts has become very popular with office users because they efficiently maximize usable office space. North Forest’s portfolio includes locations in Amherst, Clarence, Lancaster, Orchard Park, and Rochester. For more information, call (716) 626-9764 or visit www.nforest.com.
