(To read more on the industrial market, click here.)
WESTHAMPTON, NY-The Suffolk County Department of Economic Development and Workforce Housing has retained Newmark Knight Frank to create a request for proposals for a 58-acre site here. The county wants to solicit lease development proposals for as much as one million sf of development.
The site is at Gabreski Industrial Park at the county's Francis S. Gabreski Airport. Jack O'Connor, principal and director, National Industrial Practice Group, along with Chuck Tabone, SIOR, managing principal and Brian Lee, executive managing director of Newmark Knight Frank's Melville office, are now working on drafting the RFP. They expect work to be completed in March.
Suffolk County officials would like to see a high-tech/homeland security economic hub at the airport. "They also stated that defense and communications firms and other low impact technology companies might find the property attractive," O'Connor says. "There is a definite need for industrial in the area." He notes that the site would not be rezoned.
The county-owned site has been designated by the Town of Southampton as a Planned Development District suitable for light industrial use and is also one of six Suffolk County Empire Economic Development Sub-Zones that offer incentives. They include real property tax abatement, sales tax refund, wage tax credit, Empire Zone investment tax and employment incentives credit and new business refund. Other incentives include a utility rate savings in addition to technical assistance from the county and surrounding towns.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
