ALLEGANY, N.Y. — The former Kmart plaza on State Road 417 in Allegany had been dormant for four decades.
From the outside, the structure looked like it should be torn down, which is what locals often said should happen.
But not to Dana Cornell, CEO of Olean-based Cornell Capital Holdings. The private investment firm he started in 2020 focuses on direct investments in private debt, equity and real estate, especially self-storage. He thought outside the box, big box store, that is.
“Oftentimes you can find unique advantages to lower risk, lower cost and put yourself in a position to be successful,” he said. “That’s what we did on this project.”
Read more of this from our partners Buffalo Business First.
