A 30-year-old family owned manufacturing company in Harrison will more than double its space when it relocates to a vacated Peekskill plant late this year.
Giuliante Machine Tool Inc., an aerospace gear manufacturer, paid $1.9 million, or $70 per square foot, for a 27,000-square-foot industrial building at 12 John Walsh Blvd. in Peekskill. The seller was Walter Realty Inc. The Giuliante company currently occupies a 10,000-square foot plant at 75 Calvert St. in Harrison.
Company Vice President Marcelo Giuliante said the owners will spend an estimated $500,000 in building improvements before fully relocating operations to Peekskill in September or October. Most of the company”™s 23 employees are expected to make the move, he said.
“We”™ve been looking for about two to three years to relocate,” Giuliante said last week. Their search had focused on lower Westchester County, as many of the company”™s employees live in Yonkers, Mount Vernon and the Bronx. However, “The market for (industrial) buildings is just not accommodating,” he said. “Some of them that are here are overpriced and falling apart.”
Giuliante said the company was drawn to Peekskill by the condition and location of the building and the responsiveness of city officials. “The city itself tends to be leaning toward rejuvenating itself,” he said.
The manufacturer has a payment-in-lieu-of-taxes agreement, or PILOT, with the Peekskill Industrial Development Agency.
The industrial building was last occupied by Timco Inc., the plastic parts manufacturer that relocated to a new facility on Greentown Road in nearby Buchanan.
Giuliante said the second-generation family business was started in 1979 by his father, Armando; his mother, Martha Giuliante, is company president. The company now almost exclusively manufactures gears for the aerospace market, with clients that include Boeing, Lockheed and their Tier 1 suppliers. The company has annual revenue of about $5 million, he said.
