Stewart Stamping Building Hits Market for Sale

In published reports Stewart EFI stated it was shutting down its Yonkers plant by year's-end. Stewart EFI has hired CB Richard Ellis as the sales agent for the complex that is situated between the Cross County Shopping Center and the redeveloped Yonkers Raceway, which now includes the Empire City gaming operation. CBRE's vice president Budd Wiesenberg, executive vice president William Cuddy and senior vice president Al Mirin are working on the assignment.

The property was built in stages between 1930 and 1983, CBRE officials say. CBRE tells GlobeSt.com that they do not have an asking price at this time. Stewart EFI has operated metal finishing operations at the building for more than 50 years. The building, which sits on nearly 3.5 acres, is the largest industrial building available in Westchester County, according to CBRE. The 630 Central Ave. building consists of 186,000 sf of industrial space and 15,000 sf of office space and features 18-foot high ceilings, two grade level truck doors, four enclosed loading docks and two freight elevators.

"A building like this may never come on the market again and we believe it will appeal to a variety of users located in the tri-state region, including manufacturers, distributors, retailers, wholesalers, and transportation companies," Wiesenberg says. "Investors and developers as well should have their eyes on this unique parcel as it also lends itself to redevelopment as the area continues its transformation with the success of Empire City at Yonkers Raceway, the major renovations underway at Cross County Shopping Center and Forest City's Ridge Hill mixed-use development under construction nearby."

Stewart EFI is a supplier of precision, deep drawn, progressive die and slide-formed metal stamped components, wire forms, as well as automated and secondary assemblies, plating and metal finishing. According to its company website, Stewart EFI's Yonkers facility "provides for the manufacture of progressive and slide formed metal stampings as well as wire forming, bandoleering and a diverse assembly portfolio" as well as tool design, fabrication for progressive and slide formed components, in-house metal finishing and plating. The company has manufacturing operations at its facilities in Thomaston, CT; El Paso and at a joint venture property in Hangzhou Province in China.