PEARL RIVER—The sale of the Pfizer campus here to Industrial Realty Group, LLC closed on Nov. 19, IRG announced in a press statement. The Los Angeles, CA-based company stated that the early stages of its plan for the 200 acres it acquired envision a “dynamic mixed-use, multi-tenant campus.” No financial details on the transaction were…
Read MoreWHITE PLAINS—If all goes according to plan it will be more than 11 years from the time the developer of the former Reader’s Digest corporate headquarters in Chappaqua acquired the property in December 2004 until it turns its first shovel on its mixed-use project on the 114-acre campus in early 2016. The archives of Real…
Read MoreWHITE PLAINS—For the majority of his recent presentation before HGAR’s Commercial Investment Division, developer Felix Charney kept to his word and was upbeat and at times humorous about his firm’s 11-year journey to obtain approvals and build a mixed-use development at the former Reader’s Digest headquarters in Chappaqua. However, he did lash out at New…
Read MoreEDISON, NJ—The new leadership of Mack-Cali Realty Corp. say the company will embark on a new direction that will focus on waterfront and transit-oriented office properties as well as luxury multi-family properties. In terms of the company’s suburban assets, which include holdings in Westchester County, the company intends to spend $20 million upgrading those properties.…
Read MoreTARRYTOWN—The latest lease expansion by Regeneron Pharmaceuticals Inc. will bring its overall presence at The Landmark at Eastview campus here to more than 1.1 million square feet. The rapidly growing biopharmaceutical firm signed a nine-year lease expansion for 116,200 square feet of space at the 1.4 million Landmark at Eastview office and R&D complex, which…
Read MoreNANUET—DoubleTree by Hilton debuted its newest New York offering on Aug. 27 with DoubleTree by Hilton Nanuet, a modern 156-room hotel located near the Village of Nyack. Previously a Comfort Inn and Suites, the hotel completed a multi-million dollar renovation that included a total redesign of the lobby, fully-updated guest rooms and revamped public areas.…
Read MoreGOSHEN—With three quarters of the year complete, Orange County has scored its fair share of business attractions that will create numerous construction jobs as well as high-paying permanent jobs upon completion. Real Estate In-Depth sat down recently with the staff of the Orange County Partnership, the economic development agency for Orange County, to discuss the…
Read MoreGOSHEN—Another sign that the Orange County economy is growing comes from the hotel-tourism sector as lodging developers are now proposing to build new hotel properties to meet the increased demand by tourists and business travelers seeking overnight accommodations. In addition to the fact that a host of commercial and industrial businesses are announcing plans to…
Read MoreTARRYTOWN—As part of the state’s Consolidated Funding Application (CFA) process and particularly Gov. Andrew Cuomo’s Upstate Revitalization Initiative (URI), the members of the Mid-Hudson Regional Economic Development Council have agreed in principle to propose sites throughout the region that could qualify for state funding as “shovel-ready” sites. The initiative is seen as critical to securing…
Read MoreIn his second year of office after winning the County Executive post in the November 2013 election, former Chester Supervisor Steve Neuhaus has had to tackle some major issues, including the ongoing debate over the redevelopment of the Government Center in Goshen, a renewed focus on economic development and the pursuit of casino gaming, and…
Read MoreDOBBS FERRY, NY—The developer of the $130-million Rivertowns Square project off the Saw Mill River Parkway here has secured $42 million in construction financing from M&T Bank and promises to resume work on the mixed-use project. In conjunction with the financing deal, developer Saber Dobbs Ferry, LLC reported that it will stage an official groundbreaking…
Read MoreNEW ROCHELLE—After months of public meetings, master developer RDRXR released a recommended action plan for the redevelopment of a large swath of the Downtown district of the City of New Rochelle that has the development potential of approximately 10.7 million square feet of mixed-use space. The plan outlines development potentials in five separate downtown districts.…
Read MoreEDISON, 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…
Read MorePutnam 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…
Read MoreWHITE 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…
Read MoreEAST 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…
Read MoreYONKERS—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.…
Read MoreHARRISON—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…
Read MoreALBANY—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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