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Northrop Grumman to Sell 386,000-SF Property

NEW YORK CITY-The weapons technology company is selling off its original Long Island building, a sprawling office and industrial facility situated on a 25-acre parcel. Initial plans are to lease back about a third of the office space to house the firms computer operations unit.

By Glen Thompson | Updated on January 16, 2002

NEW YORK CITY-Los Angeles-based defense contractor Northrop Grumman Corp has decided to put its original New York-area building on the market with an asking price of $17 million. The 386,000-sf office and manufacturing facility is one of the global defense company’s last assets in the Long Island town of Bethpage.

Insignia/ESG is marketing Northrop’s Building 1 through its Syosset, Long Island office. Brokers Phil Heilpern, Richard Karson, Martin Lomazow and Larry Weiss will handle the sale.

Northrop Grumman currently occupies the entire one- and two-story facility, which is a mix of 45% office and 55% warehouse and manufacturing space. Much of the industrial space is employed as a staging area for inventory to be used at other Northrop facilities on Long Island. Four of Northrop’s remaining Bethpage buildings are currently under renovation as part of a consolidation initiative begun last year.

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