News: Brokerage

Old Dominion Freight Line to develop $8.3m distribution center; Galesi's Glenville Business and Technology Park

Old Dominion Freight Line Inc. is planning to build an $8.3 million distribution center in the Glenville Business and Technology Park. The company plans to build a 40,000 s/f warehouse on 13-acre parcel at the entrance to the business park. The building will employ 38 people when completed next year. Construction will start the summer of this year. The 152-acre Glenville Business and Technology Park is owned by the Galesi Group of Rotterdam. Samet Corp. of Greensboro has been selected as general contractor for the project. The Schenectady County Industrial Development Agency approved the package of incentives for the project, including a sales-tax exemption on building materials, that could save the company $500,000 over a 10-year period. Ray Gillen, chairman of the Metroplex Development Authority, said, "Old Dominion's selection of the Glenville Business and Technology Park will help us land other companies who often cluster near their service centers. The Glenville site is ideally located right at Exit 26 of the NYS Thruway. We appreciate the strong support we received from the County, the Town of Glenville and the Galesi Group to bring this major new investment to our community."
MORE FROM Brokerage

Residential real estate consultancy and brokerage firm Nancy Packes, Inc. rebrands as NPI

Manhattan, NY The NYC-based premier residential real estate consultancy and brokerage firm, Nancy Packes Inc., has rebranded as NPI. Helmed by Seth Rosner, most recently the firm’s managing partner and now president, the company has been intricately involved in hundreds of Tri-State new developments and conversions, spearheading the full project life cycle, from assessment/pre-dev.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

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.
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
A guide to finding the right NYC property management company - by Sanjay Gandhi

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
Hunt CRE question and answer: Choosing a real estate agent - by David Hunt

Hunt CRE question and answer: Choosing a real estate agent - by David Hunt

First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary