Commercial

Mack-Cali Leases 363,000 SF In Westchester-Fairfield Counties

August 2015

EDISON, NJ—Mack-Cali Realty Corporation announced on Aug. 3 it had leased 362,778 square feet at its office and office/flex commercial real estate properties in Westchester County and Fairfield County, CT during the second quarter. Portfolio-wide, Mack-Cali leased 1,377,100 square feet of space during the quarter. Highlights of the second quarter transactions in the Westchester-Fairfield market…

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Putnam’s Businesses, Nonprofits and Tourism Interests Rely on Each Other

August 2015

Putnam County’s economy is essentially a symbiotic relationship between area businesses, nonprofits and the tourism industry, and business development strategies would do well to understand this interaction. Perhaps more than any other nearby county, Putnam relies on large nonprofit employers to provide jobs and fuel our economy.  A review of the Putnam County Economic Development…

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Normandy Inks Over 235,000 Square Feet Of Lease Deals at The Exchange in 2015

August 2015

WHITE PLAINS—Normandy Real Estate Partners, a leading real estate operator and fund manager, announced recently it had secured significant leasing volume for its Westchester County-based portfolio, “The Exchange.” The 1.6 million-square-foot portfolio, which consists of 14 buildings, has completed more than 235,000 square feet of leases year-to-date, with CBRE representing Normandy in the transactions. This…

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Major Sportsdome Project Planned at IBM Parcel

August 2015

EAST FISHKILL—A two-and-a-half year process to bring what will be a $25-million air-supported sportsdome to Dutchess County ended last month with the purchase of a 30-acre parcel of land here by Hopewell Sportsdome Ventures from an affiliate of Linuo Solar Group, the owner of the IBM West campus property. The vacant property was part of…

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Yonkers to Build First Firehouse in 35 Years

August 2015

YONKERS—Yonkers Mayor Mike Spano announced on Aug. 13 the city plans to build a new firehouse in downtown Yonkers, the first to be constructed in 35 years. The decision was made after city officials and engineers determined that the building conditions at local firehouse Station 1 on New School Street were unsafe earlier this summer.…

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Urstadt REIT Acquires Westchester Shopping Center

August 2015

HARRISON—Urstadt Biddle Properties Inc. of Greenwich, CT has increased its retail holdings in Westchester County with the $10-million purchase of the Harrison Shopping Center here. The retail REIT paid all cash for the 25,000-square-foot property. The property is anchored by an A&P Fresh Supermarket, which will be replaced by a prominent grocer upon bankruptcy court…

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Council Keeps Current Fire Sprinkler Codes

August 2015

ALBANY—The New York State Association of Realtors reported on Aug. 19 that the New York State Fire Prevention and Building Code Council voted 10-3 to keep existing code as is and will not implement a statewide mandate on fire sprinkler installation. NYSAR and HGAR issued Calls for Action over the last several months to its…

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Hudson Valley Becomes Engineering Innovation Hub

August 2015

NEW PALTZ—Engineers will be needed in a host of technological and manufacturing industries in the years to come and the Hudson Valley is at the forefront of advancing new engineering technologies, including the development of 3-D Printing, and educating the engineers of tomorrow. The Hudson Valley Economic Development Corp., in collaboration with SUNY New Paltz…

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HVEDC Receives NYSEG Grant For ‘Bet on Business’ Academy

August 2015

NEW WINDSOR— Hudson Valley Economic Development Corp. reported recently it had received a grant from the New York State Electric & Gas (NYSEG) Corp. for its groundbreaking “Bet on My Business Academy” initiative. The pilot program, part of HVEDC’s Hudson Valley Food & Beverage Alliance, aims to help local entrepreneurs in the food and beverage…

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Gov. Cuomo Signs Bill Geared to Help Craft Breweries, Distilleries and Cideries

August 2015

ALBANY—Gov. Andrew Cuomo signed legislation on Aug. 14 that will make business easier for craft beverage companies in New York State. The three measures will allow farm distilleries to sell gifts and souvenirs, authorize retail stores to conduct tastings of liquor, beer and cider, and exempt micro-breweries from redundant tax filing requirements. “In every corner…

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Food and Beverage Industry Plays Key Role in Hudson Valley Economy

August 2015

The food and beverage sector has been a mainstay of the Hudson Valley economy for some time with the likes of PepsiCo, Dannon and Heineken USA doing business in the Hudson Valley and employing thousands of workers. The sector has been bolstered by some growing industry players such as: Best Mexican, Gillette Creamery, Harney &…

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Baby Boomers Still a Major Force in Hudson Valley

August 2015

NEW PALTZ— Labor expert Dr. Paul Harrington of Drexel University contends that the major economic driver of the Hudson Valley is still the Baby Boomers and not the Millennial generation as many economists and business experts would have you believe. Dr. Harington, the keynote speaker at the Hudson Valley Economic Development Corp.’s second State of…

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Hudson Valley Sees Explosive Growth in Food and Beverage Industry

August 2015

In recent years, the Hudson Valley region has seen substantial growth in its food and beverage industry. Perhaps what was once the region’s best-kept secret, the Hudson Valley’s food and beverage industry has experienced continuous expansion in size, popularity and recognition. This widespread development has been demonstrated in its craft breweries, distilleries, cider mills and…

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$300M Mixed-Use Project in Port Chester Advances

August 2015

PORT CHESTER—Starwood Capital Group of Greenwich, CT officially began the public review process last month on its ambitious $300-million redevelopment plan for the long shuttered United Hospital property here. The project entered the public review process on July 20 after Port Chester’s Board of Trustees voted to accept as complete the Draft Environmental Impact Statement…

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Butterfield Project in Cold Spring Breaks Ground

July 2015

COLD SPRING– Putnam County Executive MaryEllen Odell and other elected officials and participated in the groundbreaking ceremony of the Butterfield redevelopment project and the dedication of the Roger Ailes Senior Center on July 8 in Cold Spring. The Roger Ailes Senior Center will be a senior friendship and nutrition center, run by the Putnam County…

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Lt. Governor Touts Policies for Rebuilding State’s Economy

July 2015

RYE BROOK—More than 100 members and guests of The Business Council of Westchester were on hand June 30 for an exclusive address by New York Lt. Gov. Kathleen Hochul who told the audience how Governor Andrew Cuomo is rebuilding the state’s economy by adding jobs, luring businesses to stay in the Empire State and controlling…

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