Elmsford, NY GHP Office Realty welcomed three industrial/flex tenants at 700 Executive Blvd. These three long-term leases total 79,802 s/f of new deals at the property. The 103,500 s/f industrial/warehouse building offers tenants multiple loading docks, drive-in doors, 16’ clear ceiling heights and parking.
The owner has recently completed a $2.5 million renovation to upgrade and multi-tenant the property. The key vendors were Cardarelli Design & Architecture, P.C, Velardo Site Management, Inc., Lasa Industries, and Hirsch & Gibaldi, LLP.
Capstone Logistics LLC is a third-party logistics provider, signed a five-year lease for 37,000 s/f.
Helpsy Holdings, PBC, a Northeast recyclable clothing collector, signed a 10-year lease with 30,500 s/f of warehouse space.
Michael Rao of New York Commercial Realty Group represented both Capstone Logistics and Helpsy Holdings, PBC.
AMS Construction Corp., a New York based contractor, is leasing 12,302 s/f with a 10-year term.
Brendan Hickey, senior director of GHP Office Realty, represented the building ownership on these transactions.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,