LOS ANGELES, CA—The U.S. commercial real estate market continued to exhibit strong momentum across all property types in the second quarter of 2015, according to the latest analysis from CBRE Group, Inc. released on July 13. During the second quarter the office vacancy rate dropped 40 basis points to 13.5%, now at its lowest point…
Read MoreWHITE PLAINS—Louis Cappelli, president of the Cappelli Organization, joined with White Plains Mayor Thomas Roach, members of the White Plains Common Council and the Rev. Richard A. Kunz, rector of Grace Church, earlier this month to celebrate the dedication of a new park built by Cappelli in the heart downtown White Plains. The 11,000-square foot…
Read MoreRYE BROOK—Houlihan Lawrence announced on July 14 that Brotherhood & Higley will join the firm as an independently-owned affiliate. Brotherhood & Higley is New Canaan’s oldest real estate brokerage, serving the New Canaan community since 1926. As a Houlihan Lawrence affiliate, Brotherhood & Higley will now operate as Houlihan Lawrence, providing its team of more…
Read MoreNYACK—Début Hotel Group, Hampshire Hotels Management’s collection of lifestyle hotel brands, announced late last month the signing of an agreement with boutique development house WY Group for the newly constructed 133-room Time Hotel Nyack, located at 400 High Ave. here. Expected to open this fall and built in an industrial loft style within a former…
Read MoreYONKERS—Yonkers city officials and Simone Development Companies broke ground on the $35-million redevelopment of the long shuttered former Boyce Thompson Institute property in Northwest Yonkers. The redevelopment will transform the storied property into a modern 85,000-square-foot mixed-used complex. Joseph Simone, president of Simone Development Companies, revealed at the June 10th groundbreaking event that St. John’s…
Read MoreRYE BROOK—More than 250 members of the business community turned out recently for The Business Council of Westchester’s grand opening at its new address at 800 Westchester Ave. here. In celebrating the move to the 800 Westchester Ave. property, The Business Council also unveiled its new logo, branding and strategic initiatives aimed at helping members…
Read MoreYONKERS— The Yonkers Industrial Development Agency approved on May 19th the initial steps to preserve 240 jobs and 120 patient beds at the Michael Malotz skilled nursing facility, which is being sold by St. John’s Riverside Hospital due to ongoing financial losses. “St. John’s made it clear they could not continue to operate the nursing…
Read MoreWHITE PLAINS—Pace University, which is undertaking a $100-million redevelopment of its Pleasantville campus in Westchester County, has put its 37-acre Briarcliff Manor campus and its 82,000-square-foot office condominium in Downtown White Plains on the market for sale. Pace, which has its main campus in Manhattan and houses its Law School on a campus on North…
Read MoreMIDDLETOWN—General Electric’s renewable energy business announced on May 29 that it would supply President Container Group, a manufacturer of corrugated shipping containers and point-of-purchase displays, with a new 2 MW ground-mounted solar installation outside its factory in Middletown, NY. The GE solar solution is expected to provide approximately 25% of PCG’s future energy needs. The…
Read MoreMIDDLETOWN—Orange Regional Medical Center has begun construction on a new 153,000 square foot, five-story medical office building and a 26,000 square foot, single-story cancer center at the hospital’s main campus. When completed in the fall of 2016, the $99-million project will help relocate many outpatient services currently provided at other off-campus locations into new, state-of-the-art…
Read MorePOUGHKEEPSIE—Vassar Brothers Medical Center has announced it plans to build a new $466-million, 696,000-square-foot, seven-level inpatient pavilion at its hospital campus off of Route 9 here. A certificate of need has been filed with the New York State Department of Health. Contingent upon DOH’s expected approval by the end of this year, hospital officials state…
Read MoreWEST NYACK—Rockland County Executive Ed Day told members of the Hudson Gateway Association of Realtors’ Commercial Investment Division that Rockland County’s finances, which were on the brink of default when he took office, are improving thanks to new management practices and other cost-cutting programs initiated since he took office last year. Day revealed to CID…
Read MoreWHITE PLAINS—A little over a year since the Astorino administration’s preferred bidder withdrew its proposal to revitalize Rye Playland, Standard Amusements secured the unanimous approval to launch a $25-million redevelopment of the storied amusement park, By a vote of 17-0, the Westchester County Board of Legislators on June 15th approved Westchester County Executive Robert P.…
Read MoreWHITE PLAINS—After failing to secure the office tower properties more than a decade ago, Ivy Realty of Greenwich, CT has recently acquired the 725,000-square-foot White Plains Plaza office complex here in a distressed sale. White Plains Plaza consists of two 15-story office buildings at One North Broadway and 445 Hamilton Ave. that adjoin Ivy’s 275…
Read MorePEARL RIVER, NY—Progress is being made on the sale of one of the two pharmaceutical corporate campuses on the market in Rockland County. While a sale could close by late summer on a portion of the Pfizer complex in Pearl River in a sale and partial leaseback transaction, little progress has been made to find…
Read MoreNew York State Senator Terrence P. Murphy, chairman of the State Administrative Rules and Regulations Commission, has established a small business regulatory watch to make fellow small business owners (he owns two) aware of rules that can adversely affect them. This was in response to New York consistently being ranked 49th on the Tax Foundation’s…
Read MoreWALDEN—Angry Orchard announced on April 23 a new home for research and development at a historic apple orchard in Walden. The cider makers at Angry Orchard have been exploring different apple varieties and crafting ciders for 20 years, and are looking forward to greatly expanding that experimentation and driving innovation at their own 60-acre orchard,…
Read MoreTOWN OF WALLKILL—The Orange County Partnership reported recently that Piller USA, Inc. plans to construct a new 24,000 square foot light industrial/office headquarters facility on Wes Warren Drive in the Town of Wallkill. Piller USA, Inc. has an existing workforce of 77 employees, with 40 employees based at its Middletown headquarters. Piller has more than…
Read MoreHARRISON—A familiar face is once again at the helm of Friedland Realty Advisors—its founder Bob Friedland. Friedland started the company more than 40 years ago, growing it into a full-service firm with deep expertise across metro New York. Friedland Realty is charting a new course for growth with large investments in new office space, technologies,…
Read MoreARMONK–Cushman & Wakefield announced the sale of the former headquarters of MBIA Inc. at 113 King St. here on May 6th. The two-building Class-A office campus that totals more than 300,000 square feet on 38 acres reportedly sold for $23 million. Cushman & Wakefield represented the seller, MBIA, in the sale to a joint venture…
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