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Business
By admin | February 18, 2008
Democrat & Chronicle: Business
Pharmacy plans to vacate current location at Ridgemont Plaza in August.
Diana Louise Carter
Staff Writer
February 17, 2008 — Construction is scheduled to begin this week on the newest Rite Aid pharmacy in the area, according to William Paladino, a Buffalo developer.
The pharmacy, at 2960 W. Ridge Road in Greece, replaces the former Garibaldis Mexican restaurant, which was at Tully Lane and West Ridge Road and a vacant two-story office building. The store will be built directly across West Ridge from the current Rite Aid in Ridgemont Plaza.
Rite Aid will vacate the Ridgemont location when the new pharmacy opens, said Gary Tajkowski, director of development services for Greece.
Paladino is senior vice president of leasing and development for Ellicott Development Co. in Buffalo. The company is known there for developing and managing the landmark Ellicott Square building in downtown Buffalo. “Were one of the larger office building developers” in the area, Paladino said.
Ellicott is also developing a $30 million apartment complex on Buffalos Lake Erie waterfront, Paladino said. A subsidiary of Ellicott is renovating the United Office Building on First Street in Niagara Falls, the tallest building on the New York side of the falls until the recently built Seneca Niagara Casino hotel.
“We own a bunch of properties in Rochester,” Paladino said. Property transfer records showed the West Ridge Road property as costing $1 million.
Ellicott Development has been working in the Rochester area for more than a decade as the “preferred developer” for Rite Aid in the Northeast, Paladino said. Ellicott buys the land and builds the stores, leasing them to Rite Aid, as it did with the pharmacy on the corner of Monroe Avenue and South Goodman Street.
This site originally was approved by the Greece Planning Board for an Eckerd Pharmacy but was put on hold when Rite Aid bought the Eckerd chain.
Paladino declined to say how many pharmacies Ellicott has developed for Rite Aid, but 19 were listed in the yellow pages before the company bought the Eckerd chain. Ellicott has also developed “a number of Family Dollar” stores in the Rochester area, he said.
Paladino said the pharmacy should be finished in August.
Topics: Commercial Real Estate |