Commercial

County Looks to Create New Vision for Economic Development

August 2018

WHITE PLAINS—Officials with the Latimer Administration say they plan to be engaged with the business community and other stakeholders to pivot the county’s economic development efforts to the needs of both small and large businesses in Westchester. Since taking office in January, the county’s Office of Economic Development and its Industrial Development Agency and Local…

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Danone North America Presents a New Way to Work

August 2018

What if you could wake up each morning and decide where you want to work that day? Your selections include New York, Denver, Barcelona, Paris, Montreal or Amsterdam. Well, employees of Danone North America are able to make that choice every day—their new 80,000-square-foot headquarters at The Source at White Plains (1 Maple Ave.) is…

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Westchester County Holds First Incubator Summit

August 2018

VALHALLA—As part of it efforts to enhance county government support of small business, Westchester County staged its first “Incubator Summit” on Aug. 2 at Westchester Community College. The well-attended event featured presentations by county government officials, as well as approximately 40 representatives of the business, education and investment communities who discussed the merits of incubators…

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2975 Westchester Ave. Changes Hands

August 2018

PURCHASE—The 120,000-square-foot 2975 Westchester Ave. office building has been sold to a Greenwich, CT-based investment firm controlled by the Schur family. The transaction was reported by GHP Office Realty. GHP Vice President Jamie Schwartz represented the seller in the transaction. The Westchester County Business Journal reported the seller as an affiliate of RPW Group of…

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City of Newburgh Files Federal Suit Over Water Contamination

August 2018

NEWBURGH—The City of Newburgh filed suit on Aug. 6 in the United States District Court for the Southern District of New York seeking to halt on-going contamination of the city’s water supply by cancer causing per- and polyfluoralkyl substances (PFAS) originating at Stewart Air National Guard Base and Stewart International Airport, now operating as New…

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Iona College Breaks Ground on Business School Building

August 2018

NEW ROCHELLE—Iona College celebrated the official groundbreaking of its new business school building on July 27 with a ceremony that included alumnus and Board of Trustees member Robert V. LaPenta '67, '00H, officials from Iona College and the City of New Rochelle, and members of the local community. Remarks were delivered by LaPenta, Iona School…

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Three Hudson Valley Toys ‘R’ Us Stores to be Auctioned

August 2018

NEW YORK—Among a total of 123 Toys ‘R’ Us and Babies ‘R’ Us owned and leased stores slated for auction later this month are three store locations in the Hudson Valley. The shuttered locations on the block are in Nanuet, Poughkeepsie and Yonkers. The only other New York State location available at the auction is…

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New Owner of Reckson Exec. Park is George Comfort & Sons

August 2018

RYE BROOK—The mystery of who the new owner of the Reckson Executive Park here has been solved—it is New York City-based George Comfort & Sons, Inc. The suspense over the new ownership began last April when then owner SL Green Realty announced it had entered into a contract to sell the six-building, 563,596-square-foot office complex.…

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Veteran Broker Says Walmart Looking for New Site to Replace White Plains Store

July 2018

WHITE PLAINS—While some city and business officials were surprised by Walmart’s decision to shutter its 180,000-square-foot Downtown White Plains location on Aug. 10, a veteran retail broker has seen it coming for some time. Martin Deitch, executive vice president with retail brokerage firm Aries, Deitch & Endelson of Hartsdale, NY, tells Real Estate In-Depth that…

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Yale New Haven, Greenwich Hospital Open New Multispecialty Center in Rye Brook

July 2018

RYE BROOK—The continued growth of the health care sector continues in Westchester County. A host of local dignitaries, including Westchester County Executive George Latimer, were on hand on Monday for the ribbon cutting of the new Northeast Medical Group Multispecialty Center here. The ribbon cutting event for the new remodeled 15,000-square-foot outpatient facility at 90…

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Mamaroneck Property Sold to Developer Building Apartment Complex on Site

July 2018

RYE BROOK—Houlihan Lawrence’s Commercial Group recently announced the sale of a 3,100- square-foot, one-story building at 145 Library Lane in Mamaroneck. The sale price was $800,000. Bryan Lanza and Garry Klein represented both the buyer and seller in the transaction. The purchaser was Garson Properties of Mamaroneck which has approval to build an apartment complex…

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Boyce Thompson Center Welcomes New Healthcare Tenants to its Roster

July 2018

YONKERS—The 85,000-square-foot mixed-use Boyce Thompson Center reported recently the signing of 12,724 square feet in new leases to three healthcare tenants bringing the center to more than 90% percent leased. ENT & Allergy Associates signed a lease for 8,043 square feet for its newest office location. ENT and Allergy has more than 200 physicians practicing…

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Foreign Investment in U.S. Commercial Real Estate Remains Strong

July 2018

WASHINGTON—Nearly one-fifth of Realtors practicing in commercial real estate closed a sale with an international client in 2017, and 35% said they have experienced an increase in the number of international clients in the past five years, according to a report released recently by the National Association of Realtors. NAR’s 2018 Commercial Real Estate International…

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Growing Stewart Airport Gets New Name

July 2018

ALBANY— New York Gov. Andrew M. Cuomo announced on June 29th what he termed as the beginning of a new era for Stewart International Airport in New Windsor with its official name change to “New York Stewart International Airport.” The governor said the formal adoption of its new name builds on the airport's significant growth…

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Mid-Hudson is Mecca for Craft Brewing Industry

June 2018

ALBANY—A report touting the burgeoning craft brewing industry in New York State clearly shows that the Mid-Hudson region is the top market for this sector. A report released by Gov. Andrew Cuomo on June 14 noted that the Mid-Hudson Valley added the most new craft manufacturers statewide, with 93 new businesses opening in the past…

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Three Major Property Sales Close in Hudson Valley

June 2018

WHITE PLAINS—Three major property sales were reported by area commercial brokerage firms recently that involved multifamily and retail properties in Westchester County and a more than 123-acre site in East Fishkill formerly owned by IBM. Marcus & Millichap recently announced the sale of a three-property, 104-unit multifamily portfolio in White Plains. The portfolio sold for…

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IDA Report Shows Tax Break Growth Slows Job Creation Remains Higher Downstate

June 2018

ALBANY—New York State’s Industrial Development Agencies reported $715 million in net tax exemptions in 2016, up almost 3% from 2015, according to a report issued on June 1st by New York State Comptroller Thomas P. DiNapoli. The report also showed that downstate regions accounted for 57% of the total net jobs gained through IDA projects…

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