Market Information

Bevolution to lay off 48 at LI facility, files WARN notice

The Huntington Station facility of a Chicago-based company that makes shelf-stable and frozen beverage products and cocktail mixes will close in December, according to a state regulatory filing. The WARN filing, posted on the state Labor Department’s website on Friday, says that 48 employees of Bevolution Group will be affected. The company declined to comment Monday evening. The notice attributes the closing to a “consolidation of production processes.” Layoffs are scheduled for Nov. 18, followed by the plant’s closing on Dec. 30, the notice says. Under the state Worker Adjustment and Retraining Notification Act, companies with at least 50 full-time employees in New York must give workers a 90-day notice [..]
READ MORE

Nassau approves funding plan for $1B mega-project

The Nassau County Legislature approved a funding mechanism Monday that allows the $1 billion Garvies Point mixed-use development to contribute a smaller portion of payments in lieu of taxes to the county. According to the plan, the county will receive $21.3 million from the Glen Cove project over 40 years, which comes to about 6.4 percent of its PILOT payments, instead of the typical 7.7 percent the county would normally get. Under the financing plan, bonds issued by the City of Glen Cove’s Industrial Development Agency will be repaid with future incremental tax revenues generated from the project. The city is not liable for repayment of the bonds. Garvies Point [..]
READ MORE

Sloan Kettering cancer center at Nassau Coliseum site gets OK

Hempstead’s town board approved a site plan on Tuesday for Memorial Sloan Kettering Cancer Center to build a $140 million outpatient treatment and research facility at the Nassau Coliseum site in Uniondale. (Credit: Memorial Sloan Kettering) Hempstead Town Board members approved a site plan Tuesday for Memorial Sloan Kettering Cancer Center to build a $140 million outpatient treatment and research facility at Mitchel Field as part of the Nassau Coliseum project. Town officials said the site plan and environmental review cleared the final hurdles for construction on the 140,000-square-foot medical building at the Nassau Coliseum off Hempstead Turnpike in Uniondale. The cancer treatment center is to be built on the southwest portion of the Coliseum property and includes a 452-space, 134,000-square-foot parking garage. [..]
READ MORE

Best Market to open new headquarters at old Entenmann’s property

From left, Aviv Raitses, co-owner of Best Market, Tod Buckvar and Mark Fischl, principals of Suffolk County Industrial LLC of Melville, and Or Raitses, vice president and general counsel at Best Market, speak outside the old Entenmann’s complex on Fifth Avenue in Bay Shore on Monday, Aug. 1, 2016. (Credit: Barry Sloan) Regional supermarket chain Best Market plans to open a new headquarters, distribution center and food business incubator at the site of the iconic Entenmann’s property in Bay Shore. As part of the Bethpage-based family-owned grocery company’s expansion, Best Market will consolidate the operations of its Bethpage headquarters and Farmingdale distribution center at the old Entenmann’s bakery, which ceased production on Fifth Avenue in Bay Shore in August 2014. Best Market would [..]
READ MORE

Hicksville industrial portfolio fetches $11M

A 14-building industrial portfolio in Hicksville was sold to Spiegel Associates in a deal that closed last month. Industry sources say the price was $11 million. The collection of freestanding office and industrial buildings, called the Hicksville Commercial Park, range in size from 5,000 to 26,000 square feet, with most of the properties occupied by long-term single tenants, according to a statement from Newmark Grubb Knight Frank which brokered the sale. The portfolio totals 144,000 square feet and is fully occupied by 17 tenants, including Heller Metals, Network Technology Solutions, Five Borough Green Services, CB Archery and others. Fore Improvement Corp., which sold the portfolio, mostly located on Commercial Street, [..]
READ MORE