Search
 

Manhattan Loses Another Lease

NEW ROCHELLE, NY-The Pearlgreen Corp. is purchasing an 111,563-square-foot industrial building here and moving its digs from Manhattan.

By Ryan Clark | Updated on October 29, 2009

NEW ROCHELLE, NY-The Pearlgreen Corp. is making the move to the suburbs and purchasing 30 Pine St. here. The industrial supply company will shell out $5.6 million and net the single-story 111,563-square-foot industrial building. Pearlgreen anticipates moving into the new space in the Spring of 2010.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.