6 Corporate Drive, Halfmoon, NY
SALE
Summary
As the industrial market tightens throughout the Capital Region many industrial users have been forced to consider adaptive reuses. This facility was originally constructed as an indoor soccer facility. It was uniquely positioned in the market with 42 ft clear ceiling heights and clear span construction. Unfortunately the building didn’t have a slab or loading docks so many industrial users overlooked the site.
PVA acquired the site after leasing their prior facility to Amazon. This aquisition took careful execution to fast track coordination for planning approval, IDA Approval, and closing in a limited window. This facility now employs over 150 people.
Deal Size: 75,000 sf at $5,500,000 or $73 p/sf
Client: PVA
Situation
PVA had an urgent need for a new production facility in the Capital Region.
Strategy
Identify all off market and adaptive reuse opportunities.
Result
PVA was able to secure the necessary approvals and build out their new facility in a timely manor to be fully operational.