In April, Dannon signed a lease for approximately 50,000 sf of space at the 140,000-sf building that is currently 100% vacant. A Dannon Co. representative says the additional space was necessary in order to satisfy future growth needs.
Dannon will shift its 206 workers at its current headquarters offices at 120 White Plains Road in Tarrytown. Moses adds that the company expects to hire another 35 workers for its corporate headquarters function in Greenburgh by the end of 2005. In 2002, Dannon, a wholly owned subsidiary of Groupe Danone of Paris, posted sales of $704 million in 2002 and $759 million in 2003.
Weissman says that his firm is in negotiations with a tenant for 10,000 sf of space and with another prospective tenant for half of the second floor (20,000 sf). "If the market holds us the way it has been, we anticipate being fully leased up by year's end," he says.
The Hillside Ave. complex was only a partially completed shell when acquired several years ago by Weissman. Since then, the company has completed the building and installed a host of amenities.
In early February, the Westchester County Industrial Development Agency granted an inducement application by Dannon that will give the food products producer $250,000 in sales tax exemptions in connection with its relocation to 100-150 Hillside Ave. 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 purchases.
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