YONKERS, NY-Commercial Mortgage Capital has closed a $23.3 million first mortgage loan for a 178,150-square-foot office and industrial building here, in the Downtown area.
The four-story building—at 29 Wells Ave.—is located within the iPark Hudson Business Park, which is a 97.7%-occupied, 24-acre technology and office campus within the Yonkers Waterfront District. Located directly by the Yonkers Train Station, iPark Hudson contains nearly 800,000 square feet of space allocated across eight newly renovated buildings, which includes a newly constructed 300-space parking facility.
The property's tenant list includes Kawasaki Rail Car , which occupies 68,400 square feet and designs, manufactures and delivers passenger rail cars for the mass transportation market in the U.S. Medical product provider Skil-Care Corp. also houses its 55,000-square-foot headquarters at the building. In addition, Mindspark Interactive Network, Inc., which operates as a subsidiary of IAC/InterActiveCorp, a Barry Diller company, is building out the fourth floor for its recently executed 10-year, 36,750-square-foot lease.
As part of the overall iPark Hudson Business Park, the city of Yonkers invested approximately $25 million toward the redevelopment of Van Der Donck Park, otherwise known as the Daylighting project, which was completed and opened in September 2012.
The Van Der Donck Park project created a riverfront walkway running along the Saw Mill River and Larkin Plaza. In addition, the Metro-North railway and the Yonkers Public Library are both located directly west of the property.
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.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
