News: Brokerage

Garonit Labs acquires 15.5 acres near Stewart Airport for planned manufacturing facility

New Windsor, NY Rand Commercial has completed the sale of two tax lots totaling approximately 15.5 acres on Bruenig Road to Garonit Labs.

The parcels, located near Stewart International Airport, are part of a major development effort recently announced by Governor Kathy Hochul. Garonit Pharmaceutical plans to invest $46 million to establish a manufacturing facility on the site, which is expected to total approximately 200,000 s/f. The facility will focus on the production of Chlorhexidine, a disinfectant and antiseptic used in infection control.

According to the Governor’s office, the project is expected to create new jobs and drive economic growth in the Mid-Hudson region. It is supported by $3.8 million in state incentives.

Paul Adler, Esq. of Rand Commercial represented the seller in the transaction. Robert Scherreik of Pyramid Brokerage Company of the Hudson Valley, LLC, represented the buyer.

The site is located within the New York International Plaza, which offers access to Interstates 87 and 84 and benefits from state-supported infrastructure and economic development programs.

For more details, view the full announcement from the Governor’s office here.

Additional development opportunities remain available in the area. For more information, contact Rand Commercial.

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