North Forest company to build two 'spec' office buildings

North Forest Office Providers will be starting construction on two "spec," or speculation, office buildings. The first is an 18,228-square-foot building at 8205 Main St. in the Stonegate Office Park in Williamsville. The second is a 15,996-square-foot building at 1416 Sweet Home Road in the University Commons office park in Amherst.

Traditionally, an anchor tenant signs a lease and then the building is constructed. Building on speculation, or "spec," means that the building is constructed before tenants have been signed to occupy it, and is considered by most developers to be a risky venture but North Forest believes that "If you build it, they will come."

"We have confidence in both our product and our ability to service the local market," Bill Hamilton, chief financial officer of North Forest Office Providers, said. "That confidence allows us to take the risk associated with 'spec' buildings."

Leasing at 8205 Main Street is currently underway for occupancy this fall, with professional and medical space available from 651 to 18,229 square feet. The property at 1416 Sweet Home Road began leasing in August for occupancy this winter, with space ranging from 667 to 15,996 square feet.

For more information, call 626-9746 or visit www.nforest.com