Dannon Signs Deal for 50,000+SF in Greenburgh

Weissman says the lease term is for 13 years and that Dannon is looking to possibly expand its lease from 50,000 sf to as much as 65,000 sf. Although Dannon officials could not be reached for comment on the deal at deadline, Greenburgh town supervisor Paul Feiner released a statement on April 6 confirming the deal at the Hillside Avenue property located across the street from the new Greenburgh Town Hall. At one time the Town of Greenburgh considered the purchase of 100-150 Hillside Ave., which was developed by SCI Real Estate, for its new Town Hall/Library, but opted instead to move to 177 Hillside Ave. across the street. Weissman says that his firm is in negotiations with two prospective tenants for the balance of the available space at the building.

Robert Miller and Stuart Snow of Prudential Connecticut Real Estate of Stamford, CT. represented Dannon in the lease transaction. Miller says that Dannon was looking for large floor plates and a signature building, which were both satisfied at 100-150 Hillside Ave. The property's location right along I-287 (the Cross Westchester Expressway) was also viewed upon favorably by Dannon officials, he adds. The company is expected to take occupancy of its new space by this fall.

The Hillside Avenue complex was only a partially completed shell when acquired several years ago by Alfred Weissman Real Estate. Since then, the company has completed the building and installed a host of amenities. Weissman says the building's 2000 KVW generator, which gives the building full redundancy, was another factor that tipped the scale in the property's favor.

In early February, the Westchester County Industrial Development Agency granted an inducement application by Dannon that will now afford the food products producer $250,000 in sales tax exemptions in connection with its relocation to 100-150 Hillside Ave. According to company filings with the Westchester County IDA, the firm will retain the 208 workers currently employed at its Tarrytown offices and would add another 35 jobs in the next few years at its new corporate headquarters in Greenburgh. The firm's application stated it planned to spend $2.5 million in improvements at the Greenburgh property and another $2 million in furniture and equipment.