TOWN OF WALLKILL—Near a busy overpass for Route 17, state and local government leaders joined business and building trades representatives to press New York State to move forward with necessary environmental studies that will lead to what they say is the long-overdue expansion of Route 17 in Orange and Sullivan counties. The March 10th rally…
Read MoreNEW YORK—SL Green Realty Corp. announced on March 15 it had signed a 16-year, 328,000-square foot lease with International Business Machines Corp. at its One Madison Ave. tower building currently under construction. The lease covers portions of floors two and seven and the entire eighth through 10th floors and a portion of the ground floor…
Read MoreTARRYTOWN—One of the most recognizable hotel properties in Westchester County—the Westchester Marriott—has changed hands in a $40-million transaction. New York City-based Taconic Capital Advisors, HEI Hotels & Resorts of Norwalk, CT partnered to acquire the Westchester Marriott, a 444-key hotel in Tarrytown, from Ares Commercial Real Estate Corp. of New York City for $40 million.…
Read MoreRYE—While the transaction comes with few details at the moment, the New York Blood Center has confirmed reports in the Westchester County commercial brokerage sector that it recently signed a lease for 187,181 square feet at 601 Midland Ave. in Rye. The deal, which was finalized in the fourth quarter of 2021, was the largest…
Read MoreNEW ROCHELLE—A longtime city official, Charles B. Strome III, who has served as New Rochelle City Manager for the past two decades, will retire at the end of this year, the city announced on March 9. Strome announced his retirement to the City Council at its March 8 meeting and will remain with the city…
Read MoreWHITE PLAINS—NewYork-Presbyterian has acquired the WestPark office complex at 1111-1129 Westchester Ave. here and has plans to convert the nearly 367,000 square feet of office space on the 25-acre property into a new state-of-the-art, multi-specialty ambulatory care facility. Multiple published reports put the purchase price at $83.5 million, citing recently filed land records with the…
Read MoreWHITE PLAINS—The Westchester County Office of Economic Development is now accepting applications for the 2022 Westchester County Business FIRST grant program. This year’s grant program will provide up to $17 million to support nonprofits and religious organizations facing challenges as a result of the COVID-19 crisis. Applications were being accepted online starting on March 4…
Read MoreWHITE PLAINS—Regeneron Pharmaceuticals, Inc. believes work could begin as early as this April on its $1.394-billion “Loop Road” expansion project in the Town of Greenburgh if the company secures necessary incentives from the Westchester County Industrial Development Agency and other sources totaling approximately $172.9 million and another $100 million in other public incentives. The Tarrytown-based company’s…
Read MoreWHITE PLAINS—A panel of commercial real estate brokers from the New York City/Hudson Valley market that were part of a recent virtual panel hosted by the Hudson Gateway Association of Realtors were upbeat about many sectors in 2022, particularly the industrial, flex, health care and medical office segments. The region’s office market remains troubled as…
Read MoreCORTLANDT MANOR—Dallas-based Invesco Real Estate, a global real estate manager, has acquired the 122,225-square-foot Cortlandt Crossing shopping center here. The grocery-anchored shopping center at 3144 East Main St. in Cortlandt Manor was sold by Rye-based Acadia Realty Trust. Cortlandt Crossing is a newly developed, 95% leased center anchored by ShopRite and HomeSense. Additional tenants include…
Read MoreMy administration and Rockland County government achieved the impossible; in only three months, Rockland launched a brand-new County Office of Buildings and Codes. I want everyone to know that this has been an incredibly difficult, detailed, and time-consuming process to create an entirely new office within county government. It was only 90 days ago that…
Read MoreWHITE PLAINS—Argent Ventures, a privately held New York City-based investment firm, has acquired the twin-tower White Plains Plaza office property here from Ivy Realty of Greenwich, CT and DW Capital of New York City for $105 million. The deal represents the largest single asset office sale in Westchester County since 2010. The purchase expands Argent’s…
Read MoreANNAPOLIS, MD—Logistics investment firm Realterm, which is headquartered in Annapolis, MD, has acquired a final-mile warehouse property in Armonk and another two warehouse buildings in Blauvelt, totaling a combined more than 420,000 square feet of industrial space. On Feb, 14, Realterm reported that it acquired the 112,791-square-foot warehouse building at 215 Business Park Drive in…
Read MoreNEW CITY—On Feb. 14, Rockland County Executive Ed Day and newly appointed Director Ed Markunas provided an update on the launch of the new County Office of Buildings and Codes, which began operations that day. The new county department assumed full control over the functions of the Village of Spring Valley Building Department per a…
Read MoreGOSHEN—“If at first you don’t succeed, try, try again.” After a Request for Proposals in 2020 to sell the more than 258-acre Camp LaGuardia property that is located in the villages of Chester and Blooming Grove failed to find a viable buyer, Orange County says it has put the property once again on the market…
Read MoreNEW WINDSOR—The Mid-Hudson Regional Economic Development Council announced on Wednesday that Dr. Marsha Gordon, President & CEO of The Business Council of Westchester (BCW) and Dr. Kristine Young, President of SUNY Orange have been appointed as Co-Chairs of the Council, effective immediately. Dr. Gordon and Dr. Young succeed Dr. Donald P. Christian, President of SUNY…
Read MoreRYE BROOK—The Westchester County commercial market ended 2021 on a generally positive note with robust growth in multifamily developments as well as a strong performance by the industrial/flex market while retail fundamentals continued to improve and the investment market showed modest gains. However, entering 2022, the office market struggles to gain traction, according to the…
Read MoreNEW WINDSOR—The Port Authority of New York and New Jersey announced on Feb. 1 that low-cost carrier Play Airlines (PLAY) will be launching daily international flights from New York Stewart International Airport to Reykjavik, Iceland starting on June 9. The Icelandic airline becomes the third carrier to offer international or domestic flights from New York…
Read MoreELMSFORD— Robert Martin Company announced on Jan. 26 the completed recapitalization of its “Westchester Industrial Portfolio,” a 45 property, infill, industrial portfolio totaling approximately 2.6 million square feet across three parks located across Westchester County. As part of the recapitalization, Robert Martin of Elmsford entered into a new joint venture with affiliates of New York…
Read MoreCHAPPAQUA—The newly developed retail component of the former Reader’s Digest headquarters property has been sold in a deal valued at $79.5 million. The transaction, announced by commercial brokerage firm CBRE, involves the 120,986-square-foot trophy quality, grocery-anchored shopping center that is part of the mixed-use Chappaqua Crossing development. The property was sold by the joint venture…
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