Capital Management Services Inc., a Buffalo, N.Y. collection agency with more than $68 million in annual revenues, plans to be the sole tenant of a proposed 56,000-square-foot building.
The project is the first new building in Buffalo's Larkin District, a stretch of the city that has seen several historic structures renovated in recent years with new ownership and investment dollars.
The $8.6 million project will be the subject of a Feb. 7 public hearing by the Erie County Industrial Development Agency, which is considering an incentive package for the building. A series of public hearings and meetings are set for the next few weeks to address the construction plans.
Howard Zemsky, partner at Larkin Development Group, said he hopes to begin construction in the spring and have the building ready for Capital Management by early next year.
Capital Management was the first tenant to move into the 10-story, 600,000-square-foot Larkin at Exchange Building that Zemsky renovated a decade ago. The collection agency, with more than 1,000 employees, occupies the seventh floor of the Larkin at Exchange Building.
Jeffrey Hauser, Capital Management chief executive officer, said he is happy that Zemsky is able to develop the new building for his company. The facility, he says, will accommodate continued growth while "creating an environment that will allow our employees to continue to meet and exceed the expectations of our clients that include the largest insurers and purchasers of consumer debt."
