By JAMES FINK
jfink@bizjournals.com | 716-541-1611

Iskalo Development Corp. increased its Buffalo real estate portfolio by acquiring a building across the street from one of its signature holdings.

It bought the 33,000-square-foot Verizon building at 337 Ellicott St. from Ellicott Huron LLC for $1.1 million, according to documents filed in the Erie County Clerk's office.

The downtown building is located across from Iskalo's Electric Tower.

"We have had interest in the building since our acquisition of the Electric Tower, so we were pleased when it became available," said Paul Iskalo, president and CEO.

Verizon has leased the building for a number of years to house and service vehicles in its vast fleet.

Iskalo said there are no immediate plans for the building.

"It is a nice addition to the cluster of properties we have assembled around the Electric Tower," he said.

The company's downtown real estate portfolio also includes the former Howard Shoes building on East Huron Street, a surface parking lot at 75 E. Huron and a building at 210 Oak St., which is used for indoor parking for Electric Tower tenants.