New York State Contract Reporter #2137505

Lease of 14,375 sq ft Vacant Land at 125 Chicago Street, Buffalo, NY

This opportunity is a lease offering for 14,375 sq ft of vacant land at 125 Chicago Street, Buffalo, NY, managed by the Niagara Frontier Transportation Authority (NFTA): - Government Buyer: Niagara Frontier Transportation Authority (NFTA), Property Department, Metro Transportation Center - Property Details: - 14,375 sq ft (0.33 acres) of vacant land - Zoned 'D-OG' Open Space-Green - Located at 125 Chicago Street, Buffalo, NY (Erie County) - Lease Terms: - Minimum annual lease price: $5,000 - 3% annual escalation - Term is negotiable - Land is leased 'as is'; licensee responsible for all improvements, permitting, and zoning compliance - Insurance Requirements: - Commercial general liability ($1M per occurrence/$2M aggregate) - Auto liability ($1M if vehicles are used) - Workers’ compensation - $500,000 coverage for damage to rented premises - NFTA must be named as additional insured; insurance must be primary and non-contributory - Proposal Requirements: - Proposals must include proposed rate per square foot and intended use - Evaluation favors highest compatible lease value - No OEMs or vendors are specified, as this is a real property lease, not a product or equipment procurement

Description

The Niagara Frontier Transportation Authority (NFTA) is seeking proposals from qualified parties interested in entering into a License Agreement for 14,375 square feet of vacant land located at 125 Chicago Street, Buffalo, New York. The land is zoned "D-OG" Open Space-Green and the term of the agreement is negotiable. The minimum asking price is $5,000 annually with a 3% annual escalation. The licensee will be responsible for making the premises suitable for its intended purpose, including any permitting or zoning requirements, and must maintain specified insurance coverage throughout the term.

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