Lackawanna’s development hot streak is continuing as Nut & Bolt Fastening Solutions will be shifting its operations from Buffalo’s West Side to the New Village Commercial Park. Nut & Bolt will be moving later this year from its longtime operations center at 471 Connecticut Street to a vacant building at 61 North Gates Avenue. With the move, Nut & Bolt will be moving from a 15,000-square-foot building to a 39,000-square-foot building.
Increased demand for its industrial-strength nuts, bolts and fasteners is fueling the move. Nut & Bolt, a division of the Cleveland- based Great Lakes Fasteners Inc., considered a number of local options before settling on the Lackawanna site, said CBRE Upstate New York broker Lida Eberz, who handled the deal.
Nut & Bolt, through KWTG Enterprises LLC, paid $2 million for the North Gates Avenue building, according to documents filed in the Erie County Clerk's Office.
For Lackawanna, the Nut & Bolt deal is the latest in a series of economic development wins where new commercial tenants have either moved or expanded options in the city.
Charles Clark, Lackawanna chief economic development and marketing officer, tells Buffalo Toronto Public Media’s Jim Fink what the Nut & Bolt project means for the city.
“We could say it, but I think until you get large players coming into the mix, like Uniland, like Magic Eraser, so on and so forth, then all of a sudden your marketing materials become proven,” Clark said.
With the move, Nut & Bolt will be bringing 10 workers to the Lackawanna site and plans to hire another 10 people in the coming months. Nut & Bolt’s products are used in a number of industries including traditional manufacturing, aerospace and oil and gas research and development.
Lackawanna’s Clark said the company will be a good addition to the city’s growing private sector-backed development projects.
“One success point has led to another, and they're all complimenting one another in particular in that First Ward industrial area of Lackawanna,” Clark said.
The Lackawanna Planning Board will review the Nut & Bolt project on April 30th.
