Biotech firm buys Harrison building for $7M
An expanding biotechnology firm paid $7 million in an all-cash deal for a Harrison office-park building nearly four times the size of the company”™s currently leased space in Ossining.
Histogenetics Inc. in late December closed on its purchase of 104 Corporate Park Drive, a 118,000-square-foot building vacated about two years ago by Malcolm Pirnie Inc. when the environmental consulting firm relocated to downtown White Plains. Brokers said Histogenetics, which specializes in molecular tissue typing services for hospitals and transplant centers, plans to develop a major research and development center in the repurposed building. The company leases about 30,000 square feet of space at 300 Executive Blvd. in Ossining.
Though the relocating company does plan to build laboratory and office space, “We don”™t have precise plans yet” for the Harrison property, said Dr. Nezih Cereb, president and co-founder of Histogenetics. “It”™s an investment.” He said the company should have more definite plans by March.
New York Commercial Realty Group in Harrison, headed by President Michael P. Rao, represented the buyer in the deal. Brokers William V. Cuddy Jr. and Timothy Donohue of CB Richard Ellis Inc. in Stamford, Conn., represented the seller, GLIC Real Estate Holding L.L.C.
With Malcolm Pirnie”™s downsizing and departure as sole tenant at 104 Corporate Park Drive, its previous owner, AVR Realty Co. in Yonkers, in 2010 unsuccessfully marketed the property for sale or lease. AVR”™s Allan V. Rose in December 2010 handed the deed to lender Genworth Life Insurance Co., shedding an approximately $7.57-million debt.
American Booksellers plans move to White Plains
The corporate headquarters of American Booksellers Association in the spring will move from Tarrytown to the former General Foods headquarters complex in White Plains.
The association, formed in 1900, will lease 9,000 square feet of office space in the South Building at 333 Westchester Ave., the 39-acre, 500,000-square-foot corporate center owned by developer Charles S. Cohen, president and CEO of Cohen Brothers Realty Corp. in Manhattan. ABA will relocate from 200 White Plains Road in Tarrytown.
Craig Ruoff of Rakow Commercial Realty Group in White Plains represented ABA in the 11-year leasing deal. Cohen Brothers Realty”™s Marc Horowitz and brokers Matthew Lisk and Christopher O”™Callaghan of Cushman & Wakefield Inc. in Rye Brook represented the landlord.
