Data shows that from 1996-2021, the Hudson Valley region lost a net total of 146,763 people to out migration, which calculates out to 5% of the Hudson Valley’s population.
Elected officials, seeking to appease vocal constituents, frequently uphold restrictive zoning laws that favor single-family residences over more diverse housing options.
In 2023, the Rockland County Office of Consumer Protection investigated 617 complaints and returned $66,000 to homeowners.
ORANGEBURG—A single-tenant absolute net leased property in Orangeburg leased to Scapa North America, a wholly owned subsidiary of global provider of engineering solutions and advanced materials firm Schweitzer-Mauduit International, was acquired by Solomon Builders of Teaneck, NJ for $12 million from 25 Corporate Drive, LLC in a 1031 exchange transaction.
The deal for the 38,400-square-foot property at 25 Corporate Drive was announced on Dec. 16 by commercial brokerage firm CBRE,
The CBRE team of Charles Berger, Elli Klapper, Mark Silverman, and Jeremy Wernick spearheaded the marketing of the asset and represented the seller in the negotiations. CBRE also procured the buyer.
“25 Corporate Drive is an amazing asset that is NNN leased to a very high-quality corporate tenant, providing new ownership with stable cash flow as well as future development potential,” said Berger. “Interestingly, given high interest rates, the seller was able to offer the buyer financing at a much lower rate to facilitate the sale.”
Located in an existing corporate park, 25 Corporate Drive is a single-story life sciences facility with significant upside potential. The property has experienced significant improvements recently, including new fixtures and a new roof with warranty through 2040, CBRE reported.
Data shows that from 1996-2021, the Hudson Valley region lost a net total of 146,763 people to out migration, which calculates out to 5% of the Hudson Valley’s population.
In 2023, the Rockland County Office of Consumer Protection investigated 617 complaints and returned $66,000 to homeowners.
Located at 23 Mulberry St. in the Hollow neighborhood of South Yonkers, the $48 million, four-story building has 60 energy-efficient, affordable apartments for seniors.
“Today marks a significant milestone on the path to ensuring the success of our nation’s most vital infrastructure project,” said New Jersey Gov. Phil Murphy.
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