Commercial

Medline Officially Opens New Nearly 1.4-Million-Square-Foot Distribution Center

August 2, 2022

MONTGOMERY—A host of state, county and local officials joined Medline executives on Monday for the official opening of its nearly 1.4 million-square-foot distribution center here. The facility, the largest building in Orange County, according to Orange County Partnership President and CEO Maureen Halahan, cost more than $120 million to build. The new Medline property handles…

Read More

Ginsburg Hires RM Friedland to Market Office Space at City Square

August 1, 2022

HARRISON—With the multimillion-dollar renovation of City Square at 50 Main St./1-11 Martine Ave. in Downtown White Plains, New York now complete, owner Ginsburg Development Company has awarded locally-based RM Friedland the exclusive office leasing assignment for the relaunch of its signature property consisting of 360,000 square feet of office space. RMF’s Office Managing Director, Chris…

Read More

Daybase Opens First Hybrid Work Location in Westchester County

July 26, 2022

HARRISON—Daybase, a hybrid work company, held an opening ceremony on July 25 for its first Westchester location in Harrison. The founders of Daybase were joined at the event by Harrison Mayor Richard Dionisio, along with members of the Harrison Town Council, Harrison Planning Board as well as Westchester County Executive George Latimer and Deputy County…

Read More

Pfizer to Spend $470 Million to Expand Vaccine Operations in Rockland County

July 22, 2022

PEARL RIVER—Global pharmaceutical firm Pfizer Inc. reports that it will spend $470 million to expand its vaccine research and development operations here. As Bloomberg first reported, Pfizer confirmed to Real Estate In-Depth that it plans over the next three years to secure necessary approvals and expand and modernize its campus with a new 260,000-square-foot lab…

Read More

Seminar to Focus on Impact of Rising Rates On the Commercial Real Estate Market

July 20, 2022

Mark Your Calendar: NEW YORK—As interest rates climb, inflation hits a 40-year high and global economic uncertainty surges, what impact is this having on the commercial real estate market? Will CRE transactions yield less returns, and what effect will rising interest rates have on property values and investment performances? The Fordham Real Estate Institute will…

Read More

Regeneron Pharmaceuticals Breaks Ground on $1.8B Expansion

July 18, 2022

TARRYTOWN—The largest business expansion project in the history of Westchester County became official on June 22. New York Gov. Kathy Hochul joined other state, county and local officials to celebrate the ceremonial groundbreaking of Regeneron Pharmaceutical Inc.’s $1.8-billion expansion project at its corporate headquarters campus in Tarrytown/Greenburgh. The biotechnology company has committed to create at…

Read More

Orange County Partnership Launches Program to Secure Key Information on Available Properties Countywide

July 18, 2022

GOSHEN—Terming it as one of the most important efforts it has launched in more than 20 years, The Orange County Partnership officially unveiled its “Site Inventory Program” (SIP) that will, over the coming months, seek municipal government input from across Orange County to determine all available properties that could be developed in their respective jurisdictions.…

Read More

Westchester County Office-Lab Complex Secures $18M Financing Deal

July 13, 2022

TARRYTOWN—Northpath Investments, the owner of the two-building office lab/R&D complex at 500 and 540 White Plains Road in Tarrytown, has secured $18.2 million in financing. JLL Capital Markets arranged the financing—a two-year bridge loan with multiple extension options—through Prime Finance. 500 and 540 White Plains Road are located within the Tarrytown Corporate Center in Westchester…

Read More

Rockland County Shopping Center Trades for Nearly $27 Million

July 12, 2022

HAVERSTRAW—An affiliate of Spring Valley-based Northeast Capital Group has acquired Samsondale Plaza, a 156,185-square-foot shopping center in Haverstraw, for $26.5 million. JLL Capital Markets marketed the property on behalf of the seller, a joint venture between Mark Holdings LLC and Paragon Realty Group LLC. The buyer is an affiliate of Northeast Capital Group. Samsondale Plaza…

Read More

New York City Breaks Ground $454M Public Health Laboratory Project

July 11, 2022

NEW YORK—On July 6, city officials broke ground on the new NYC Public Health Laboratory, which will be located adjacent to the Harlem Hospital complex on 137th Street. The project has been valued at approximately $454 million. New York City Economic Development Corporation is managing the construction on what will be a cutting-edge facility operated…

Read More

Prime New Rochelle Development Site Offered for Bankruptcy Auction

June 29, 2022

NEW ROCHELLE— Commercial brokerage firm Newmark announced on June 28 the pending bankruptcy auction of a prime development site at 115 Cedar St. in New Rochelle. The site, which measures 19,706 square feet, is zoned for as-of-right commercial use and can span up to 137,942 square feet of buildable space. Newmark Executive Managing Director Ronald…

Read More

Matt Rand, CEO of Howard Hanna | Rand Realty Named to Mid-Hudson Regional Council Board

June 7, 2022

NANUET—Matt Rand, CEO and President of Howard Hanna | Rand Realty, has been recently appointed to the Board of Directors of the Mid-Hudson Regional Economic Development Council. Rand becomes the first real estate professional to sit on Mid-Hudson Regional Economic Development Council (MHREDC) Board. MHREDC is the strategic economic advisory board representing the seven counties…

Read More

Stark Office Suites Acquires Long Island-Based Champion Office Suites

June 6, 2022

GARDEN CITY, NY—Stark Office Suites has announced its acquisition of Champion Office Suites of Garden City. With the deal in Nassau County, Stark Office Suites now operates 12 executive office suite locations in the New York metropolitan area. Stark Office Suites, which began operations in 2004 and is headquartered in White Plains, saw the opportunity…

Read More

NYC Mayor Adams Outlines Vision for ‘City of Yes’ Plan

June 2, 2022

First Economic Hub to Be Established in the Bronx NEW YORK – New York City Mayor Eric Adams laid out a plan to use the city’s zoning tools to support small businesses, create affordable housing and promote sustainability—part of his vision for New York to become a more inclusive, equitable “City of Yes.” The plan,…

Read More