Grumman Building Sells for $11M

BETHPAGE, NY-Northrop Grumman Corp.’s Building No. 1, a 386,000 sf mixed-use building located here was sold to Distribution Traffic Services Inc., an affiliate of E&F Trucking for more than $11 million. Mineola, NY-based law firm Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn LLP completed the sale.

The sale included two leasebacks by separate Northrop Grumman business units for space totaling 183,000 sf. According to FCSMC&C Managing Partner Jeffrey D. Forchelli, the range of efforts included subdivision approvals, retaining listing brokers, assisting in the development of an RFP to market the property, and close work with environmental management in the characterization of the site for environmental conditions and subsequent remedial activities meeting State requirements. FCSMC&C has worked on behalf of client Northrop Grumman Corporation in the finalization of a number of significant transactions over the past several years, primarily in Bethpage and Calverton.