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Phillips narrowing search for building
jfink@bizjournals.com | 716-541-1611
Three development teams recently made presentations to the partners of Phillips Lytle LLP in a final effort to land the law firm as an anchor tenant for their respective downtown Buffalo buildings.
They were Benderson Development Co., Uniland Development Co. and Ciminelli Real Estate Corp.
Benderson wants Phillips Lytle to anchor the proposed redevelopment of the Gen. Donovan State Office Building, a central project in the Canal Side development. Uniland is pushing a planned 110,000-square-foot office building and parking ramp at 155 Delaware Ave. near the New Era Cap Co. headquarters. And Ciminelli is offering to construct a 100,000-square-foot, multi-tenant building at the corner of Main and Swan streets. It's the site of the long-vacant Bernstone's cigar store and cafeteria.
Phillips Lytle is one of the most coveted leases on the local market. It's seeking approximately 85,000 square feet to accommodate more than 300 employees.
"We won't be making any determinations (yet)," said David McNamara, managing partner. "But this is a critical next step."
The firm's partners are expected to review the presentation. A final determination is still a few weeks away.
Phillips Lytle occupies several floors in the HSBC Tower and reportedly is looking to consolidate its offices into more functional space. It has been scouting locations for more than a year with Studley Real Estate Group serving as site consultant.
The lease in HSBC Tower expires in 2013, a few months before the 38-story building's anchor tenant, HSBC Bank USA, sees its own lease expire. HSBC Bank also is conducting a site search and expects to pinpoint a location for its downtown and regional offices by the end of the year.
McNamara said Phillips is working on a similar schedule, adding, "We're still looking to make a decision by year-end."


