Developers brace for pandemic’s impact on office buildings

 Real estate professionals say the pandemic likely will create an increase in available office space, both in the suburbs and downtown Buffalo.

Downtown, the vacancy rate dropped from 17.6% in 2019 to 11.3% last year, largely on the strength of M&T Bank leasing 330,000 square feet in the Seneca One Tower for its tech hub.

“M&T, by itself, could be a huge demand driver that could help downtown,” said Dottie Gallagher, Buffalo Niagara Partnership president and CEO.

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