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Moog regains federal facility security clearance
The U.S. Department of Defense has restored Moog's facility security clearance.<\p> Moog (NYSE: MOG.A and MOG.B) was notified by the federal government last September that its clearance had been invalidated because CEO Pat Roche isn’t a U.S. citizen. At the time, Moog said it was working with the U.S. Defense Counterintelligence and Security Agency to come up with a solution.<\p>
June's $1M home sales put 2024 on pace to beat 2023
A slow but strong start to 2024's million-dollar home sales has this year pacing to beat last year's record-breaking tally.<\p> Homes sold for $1 million or over started out the year lagging behind 2023's levels, but June's deals have changed that. So far, there have been 29 million-dollar home sales in Erie County, compared to 26 this time last year. <\p>
How affordable is rent in the Buffalo area?
A Buffalo-area household must earn more than $55,000 a year for the rental market to be affordable, according to a rental index co-produced by three universities. <\p> Since May, the latest Waller Weeks and Johnson rental index stated that Buffalo’s average rent was $1,375.37 a month, a nearly 6% increase from the year before. <\p>
What makes Buffalo a magnet for restaurant franchises?
The entrance of half a dozen new national or international restaurant franchises could help balance the loss of Red Lobster and TGI Friday stores in Western New York.<\p> The region continues to be a draw for companies looking for growth opportunities, according to franchisees and business development officials.<\p>
Losses continue, but hospitals report improvement for 2024
Catholic Health’s recent bond ratings success is part of a slow but noticeable trend among hospitals, where finances are beginning to turn around.<\p> The Buffalo-based health system saw its bond rating revised by S&P Global Ratings from negative to stable in early June, with the ratings agency pointing to significant operational improvement and narrower operating losses.<\p>
Loud House coming to restaurant building at Hertel/Starin
A longtime Hertel Avenue bar/restaurant is readying to open under a new concept and ownership.<\p> Loud House Buffalo is leasing 1735 Hertel Ave. at Starin in Buffalo, a site that previously housed Orazio's, Fiamma Steak House and then BOSS – Buffalo’s Original Steak & Seafood, which closed in 2016. The building went on the market in 2017 and was sold for $297,500 in early 2022 to Orchard Park businessman Ian Finn.<\p>
Industrial sites dominate list of June's largest CRE deals
Facilities once used for the production of trail mix, chocolates and windows all appeared on June's list of the largest commercial real estate deals in Erie County.<\p> Here's a look at the top 10, ranked by value.<\p>
See inside WNY’s new beach resort on Lake Erie
Just weeks after opening for business, Hideaway Bay Resort is almost completely booked for the summer season.<\p> The beach resort opened at 42 Lake Ave. on the Lake Erie shoreline in the Village of Silver Creek. The $2 million project was built on the site of the former Hideaway Bay restaurant, which was destroyed by fire in early 2020.<\p>
These are America's most-delayed flights
Airlines are expecting record-breaking traffic for the summer — and for the July Fourth holiday — but fliers on many routes would be wise to build in some extra time for their travel plans. <\p> That's according to an analysis by The Business Journals of the latest on-time data from airline analytics company Cirium Inc. The analysis looked at routes with at least 20 flights. <\p>
30 Amherst townhome units sold for $2.03M; renovation ahead
Cedarland Development Group has acquired 15 townhome buildings in Snyder, with plans to renovate them all.<\p> Cedarland affiliate Amherst Townhomes LLC paid $2.03 million for the buildings at 4035-4055 and 4075-4123 Harlem Road. <\p>
May's high-end deals hit a 4-year high for the month
High-end deals continued their upswing in May, reaching their highest tally for that month in the last four years.<\p> Two hundred and five deals valued at $400,000 or more closed, up from the month before (151) and the year prior (188). Sixteen of those were worth $1 million or more.<\p>
Delaware North makes big transition that's already paying off
In January, Delaware North's three CEOs climbed onto snowmobiles near Vail, Colorado, for a live companywide town hall meeting.<\p> The move by the three Jacobs brothers represented much more than a photo op: A year prior, the company had completed the acquisition of Nova Guides, a Red Cliff, Colorado-based outdoor recreation and adventure tour business, making Delaware North one of the nation’s largest snowmobile tour operators. <\p>
22nd Century founder starts new company in Niagara Falls
The founder and former CEO of a public company that moved its headquarters out of Buffalo earlier this year has founded another company — one that he said will stay in Western New York. <\p> Joseph Pandolfino, who left 22nd Century Group in 2015, has started a new company, Cabbacis, that’s committed to making low-nicotine cigarettes with hemp. <\p>
University gets $1M to build student success center
A local university is planning a new student success center, and it just received a $1 million grant from the state to make it happen. <\p> Canisius University, which was awarded the money through the Higher Education Capital Matching Grant Program, will renovate space in its Andrew L. Bouwhuis, S.J. Library to convert a floor or portion of a floor into the center. <\p>
Any takers for the former Seneca Mall site? A local developer says yes
Purchasing 55 acres of property in a first-ring suburb of Buffalo – it’s not an opportunity that comes around often. <\p> That’s why recent news that the former Seneca Mall site is up for sale, after being largely vacant for 30 years, has attracted at least one prominent local developer’s attention. <\p>
Former Life Storage HQ in Williamsville listed for sublease
Space in the former Life Storage headquarters at 6467 Main St.., Williamsville is available for sublease following the company's acquisition by Salt Lake city-based Extra Space Storage Inc.<\p> Extra Space will continue to occupy a small portion of the 55,000-square-foot, two-story building, which it co-owns with Iskalo Development Corp.<\p>
Among small businesses, there's a huge divide on finances
The smallest businesses are the ones most likely to be struggling, as larger small businesses report better conditions.<\p> The latest data from the Federal Reserve’s Small Business Credit Survey — released earlier this year but since followed up with a more detailed breakdown by size and demographics — shows how, even within the realm of small businesses, there is wide variation.<\p>
Buffalo-Rochester-Syracuse wins $40M for semiconductor superhighway
The Buffalo-Rochester-Syracuse region has been awarded $40 million to create a semiconductor superhighway along Interstate 90. <\p> The tri-city region was one of 12 winners of a piece of $504 million in implementation grants, according to an announcement from the U.S. Department of Commerce made early today. <\p>
Buffalo State identifies its first doctorate program
Buffalo State University’s first doctorate program, which is under review by SUNY, will be a doctor of professional studies in creativity and change leadership. <\p> The degree has been in the works since before the school achieved university status last year and is the “next natural step” since the master’s program began in the mid-1970s, said Gerard Puccio, chair of the university’s Department of Creativity and Change Leadership. <\p>
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