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Brooklyn Navy Yard Warehouse Getting Major Update

NEW YORK CITY-The facility is slated to become an incubator for manufacturing and tech innovation.

By Rayna Katz | Updated on March 06, 2013

NEW YORK CITY-Underscoring the meaning of “modernization,” a 1-million-square-foot warehouse at the Brooklyn Navy Yard that was once an ammunition depot is about to become “a modern and sustainable hub for manufacturing and technology innovation,” it was announced Wednesday. Within the 16-story edifice—known as Building 77—240,000 square feet will be leased to Jack Basch, a Brooklyn-based entrepreneur.

Basch is the owner and CEO of Shiel Medical Laboratories, which will occupy one floor, or approximately 60,000 square feet, at the building. Basch will sub-lease the rest of the space to other high-tech industrial and medical-service companies. The privately-financed renovation, to the tune of $80 million, will create 1,500 new jobs at the Navy Yard over the next five years.

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