According to National Realty & Development Corp. (NRDC), Preferred Fragrances, an importer of women's perfume, moved from its Mountainville facility to a 105,000 s/f space at 1900 Corporate Blvd. at Northeast Business Center. Existing tenant Kraft Foods has renewed its lease for 5 years and expanded its facility to 60,000 s/f at 700 Corporate Blvd.
"I am pleased that Preferred Fragrances has found a location at this property that could satisfy their distribution requirements. Northeast Business Center is a perfect fit for their needs," said Brian Sekel, executive vice president.
Northeast Business Center is located on Rte. 17K opposite Stewart Int'l. Airport and within one mile of the NYS Thruway and I-84. The 141-acre Corporate Park is the premier business facility in the Hudson Valley.
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.