The seller was pizza oven and cooking appliances manufacturer Bakers Pride Oven Co., which moved its assembly and distribution to a facility in New Jersey. Bakers owns the Jersey facility as well. William V. Cuddy, Budd Wiesenberg and Kevin Langtry of CB Richard Ellis' Stamford office repped Bakers Pride in the sale and negotiations.
"Often in Westchester as industrial users vacate their properties they are converted to other alternative uses," says Langtry in a statement. "This sale is especially rewarding, as Pearlgreen's expansion will create additional jobs in New Rochelle." The property has been on the market for less than six months.
The building sits on 3.75 acres of property and holds 14- to 20-foot ceiling heights in the warehouse portion. The office portion has access from Pine, while Columbus and Webster avenues host the two loading areas.
This sale represents a larger trend of companies fleeing New York City as the economy continues to squeeze company's margins. Recently the Depository Trust & Clearing Corp. decided to move 1,600 jobs to 415,000-square-feet in New Jersey from its Manhattan offices, as well.
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