News:
Brokerage
Posted: August 6, 2025
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.
Tags:
Brokerage
MORE FROM Brokerage
Industrial Realty Group acquires 422,727 s/f distribution facility in south St. Paul
St. Paul, MN Industrial Realty Group, LLC (IRG) acquired a 422,727 s/f industrial distribution facility located at 411 Farwell Ave. in south St. Paul. The property was formerly the headquarters of The Sportsman’s Guide, an online and
 (2).gif)
Columns and Thought Leadership
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
.gif)
August Promotion
