Commercial

CID Gets Update on IRG’s Plans For Pearl River Office Campus

June 2016

PEARL RIVER—The Hudson Gateway Association of Realtors Commercial Investment Division was once again updated on the latest developments at the Industrial Realty Group’s campus here. Major takeaways from the May 19th session held at the property included a new lease deal with a Harlem-based technology start-up and that IRG is currently “master planning” the possible…

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Putnam County Executive Odell to Speak To Chamber, CID At June 23rd Meeting

June 2016

MAHOPAC—The Putnam County Chambers of Commerce, the Hudson Gateway Association of Realtors’ Commercial Investment Division and the New York State Commercial Association of Realtors have scheduled a “Year of Business Development” breakfast on June 23rd at the Putman County Golf Course here. Putnam County Executive MaryEllen Odell will be the keynote speaker at the event…

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Camp LaGuardia Complex Availability Passes Key Vote

June 2016

GOSHEN—The Orange County Legislature voted on June 2 by an overwhelming 19-2 margin to appropriate $1.2 million to the Orange County’s Real Property office to free up the 260-acre Camp LaGuardia property for future development. “I’m pleased that the Legislature voted to take action that will help put Camp LaGuardia back on the tax rolls,”…

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Target Deal in Yonkers Helps Fill Westchester’s $17M Budget Gap

June 2016

YONKERS—A more than 30-year effort to develop a parcel of land adjacent to the New York State Thruway has finally come to an end. A deal reached last week between the City of Yonkers, Westchester County, its respective Industrial Development Agencies and the developer will facilitate the construction of a new 175,000-square-foot Target store at…

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Legoland Confirms Plans for Orange County Amusement Park

May 2016

GOSHEN—Legoland has confirmed that it intends to submit plans for a major amusement park in the Town of Goshen in Orange County, Real Estate In-Depth has learned exclusively. A spokesperson for Merlin Entertainments plc, the owner and operator of Legoland amusement parks, confirmed what sources have been telling Real Estate In-Depth and other media outlets…

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Two Large HQ Lease Deals Signed in Westchester

May 2016

CHAPPAQUA—Who says there are no significant corporate headquarters lease deals in Westchester County? In late May, two firms signed lease transactions at properties in Chappaqua at the storied former Reader’s Digest headquarters building here as well as at the Exchange in White Plains. Brokerage firm Colliers International Group Inc. reported it arranged a long-term, 15,000-square-foot…

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Houlihan Lawrence Commercial Markets $100M Hong Kong Property for Maryknoll Missionaries

May 2016

RYE BROOK—Thomas LaPerch believes that the international listing of Maryknoll Missionaries stately Stanley Hilltop waterfront property in Hong Kong will raise Houlihan Lawrence Commercial Group’s standing in the commercial brokerage sector to a new level. LaPerch, director and associate broker with Houlihan Lawrence Commercial Group, told Real Estate In-Depth in late April that the Stanley…

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GM Redevelopment Finally Breaks Ground

May 2016

SLEEPY HOLLOW—In what Village of Sleepy Hollow Mayor Ken Wray described as simply “a defining moment for our village, a real turning point” and a break with its industrial past, the developers of The Edge-on-Hudson, a planned more than $1-billion mixed-use development, broke ground on the former site of the General Motors assembly plant here.…

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IBM Plans to Vacate, Sell Somers Campus

May 2016

SOMERS—IBM is planning to relocate its workforce at its Somers complex to North Castle by the spring of 2017 and put that multi-building 1.2-million-square-foot complex on more than 700 acres on the market for sale. The company plans to also undertake capital improvements to modernize its original corporate headquarters building of approximately 420,000 square feet…

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Orange County IDA Approves Incentives For Controversial Matrix Project

May 2016

NEW WINDSOR—The third time was the charm for Matrix Development Group to secure more than $10 million in incentives for its major distribution project in the Town of Newburgh. The project was granted the incentives despite the objections of the local building trades who charged that the project continues to violate the Orange County Industrial…

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PUTNAM POSTING: Latest CFA Process Stresses Downtown Development, Community Involvement

May 2016

Through the New York State Consolidated Funding Application (CFA), a single application for multiple sources of state funding, New York State is soliciting grant applications for projects that advance the priorities of the Regional Economic Development Councils (REDC). Governor Andrew Cuomo has emphasized infrastructure in his budget message and a CFA priority this year seems…

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$60M French American School Project Still in ‘Limbo’

May 2016

WHITE PLAINS—Despite a blistering rebuke of the actions by the White Plains Common Council over what has been a five-year long approval process, the $60-million French American School of New York development project here is still nowhere near breaking ground. New York State Supreme Court Judge Joan Lefkowitz in her recent ruling described the project…

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Rye Playland Saga Ends With New Management Deal

May 2016

WHITE PLAINS—A six-year process to form a public-private partnership to save the storied, but money-losing Rye Playland amusement park finally came to an end on May 2nd when the Westchester County Board of Legislators overwhelmingly approved a deal with New York City-based Standard Amusements. The Board of Legislators voted 13-4 in favor of the deal…

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IDA Delays Vote Again on Major Project Based on Complaints Over Labor Policy

April 2016

NEW WINDSOR—The developer of a major warehouse distribution project in the Town of Newburgh will have to wait until next month to possibly secure millions of dollars in incentives for its $40-million facility that will include anchor tenant AmerisourceBergen. The Orange County Industrial Development Agency delayed two votes on granting incentives to the major distribution…

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Touro College to Open New Dental School in Hawthorne

April 2016

HAWTHORNE—Touro College announced recently that it will open later this year the first new dental school in almost 50 years at an office building adjacent to the New York Medical College’s Grasslands campus. The Touro College of Dental Medicine, which will open to its first class this fall, will reportedly occupy approximately 100,000 square feet…

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Westchester Medical Center Network Expands to Kingston Region

April 2016

KINGSTON—The Westchester Medical Center Health Network, the parent company of the Westchester Medical Center in Valhalla, is expanding its reach to the far reaches of the Hudson Valley. On March 30, HealthAlliance of the Hudson Valley announced it had joined the WMCHealth network. HealthAlliance of the Hudson Valley is the alignment of HealthAlliance Hospital: Mary’s…

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CID Holds Hudson Valley Economic Development Roundtable

April 2016

WHITE PLAINS—The similarities and stark differences that exist in the four county jurisdiction of the Hudson Gateway Association of Realtors were clearly evident in the presentations by chief economic development officials from Westchester, Rockland, Orange and Putnam counties at the recent Commercial Investment Division meeting held at the new HGAR offices here. More than 60…

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Westchester’s IDA, LDC Assistance Fueled $842M In Multifamily, Bioscience Projects

April 2016

WHITE PLAINS—2015 was a record year for the county’s Industrial Development Agency (IDA) and Local Development Corporation, which supported 14 projects that will produce a combined total private investment of more than $842 million. While ranging from small to large, a lion’s share of the projects that received financial incentives from Westchester County involved mixed-use…

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Westchester Markets the County As The ‘Smart’ Place to do Business

April 2016

WHITE PLAINS—Westchester County’s economic development programs are geared to promoting its prime location, its quality of life and its highly educated workforce as just some of the reasons why it is the “Smart” place to do business. Westchester County is continuing its “That’s Westchester Smart” marketing and advertising campaign that is focused on both attracting…

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