Commercial

Colliers International Named Agent For ARC Companies' Rye Building

November 24, 2015

RYE—Colliers International has been retained by The ARC Companies as the exclusive leasing agent for its 180,000-square-foot, Class-A office building at 555 Theodore Fremd in Rye. The three-story property, which The ARC Companies acquired at the end of 2014, features a recently renovated, full-service cafeteria, fitness center, and a lobby with a stunning glass sculpture.…

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NYSCAR Group Honors Hudson Valley Dealmakers

November 23, 2015

CHESTER—Outstanding achievements in local commercial real estate were recognized at the recent inaugural “Dealmaker” awards and mixer presented by the Hudson Valley chapter of the New York State Commercial Association of Realtors. The ceremony, held at the Sugarloaf Performing Arts Center, is the first annual awards ceremony created to celebrate exceptional achievements in local commercial…

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Robert Martin Co. Invests in Friedland Realty Firm

November 23, 2015

HARRISON– Friedland Realty Advisors, a more than 40-year-old full-service commercial real estate firm, announced it had received a significant investment from Robert Martin Company, a real estate investment, development and management firm headquartered in Elmsford. Through the investment, Friedland Realty can now offer clients the combined expertise and resources of two of the longest-standing real…

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ROCKLAND: IRG’s Purchase of Pfizer Campus Closes

November 23, 2015

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…

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Chappaqua Crossing Set to Break Ground in 2016

November 20, 2015

WHITE 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…

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Developer Chides NY’s Approval Process

November 20, 2015

WHITE 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…

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Mack-Cali Announces Major Operational Strategy Shift

September 15, 2015

EDISON, 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.…

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Regeneron Expands Again At Landmark at Eastview

September 3, 2015

TARRYTOWN—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…

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DoubleTree by Hilton Nanuet Debuts

September 3, 2015

NANUET—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.…

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Tourism, Business Travel Spark Hike in New Hotel Construction

September 3, 2015

GOSHEN—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…

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Exclusive: Mid-Hudson Hopes to Create ‘Shovel Ready’ Program To Spur New Business Investment, Jobs in Region

September 3, 2015

TARRYTOWN—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…

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$42M in Financing Secured for Dobbs Ferry Mixed-Use Project

September 2, 2015

DOBBS 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…

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Ambitious New Rochelle Downtown Redevelopment Plan Moves Forward

September 2, 2015

NEW 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.…

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

August 30, 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 29, 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 29, 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 29, 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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