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Ottogi American Buys Chefman’s Orangeburg Warehouse At 29 Corporate Drive For $22.2 Million
The warehouse/industrial property at 29 Corporate Drive in Orangeburg sold for $22.2 million. The seller was Mahwah-based 29 Corporate Drive, LLC. The buyer was La Mirada, California-based OA Orangeburg, LLC.
The 97,000 square foot building sits on 7.21 acres in an industrial section of Orangeburg.
The site was designed to be the home of Chefman, a Mahway-based provider of small kitchen appliances. Back in 2021, the Town of Orangetown Planning Board greenlit a proposal for the company to double the size of its building, once the site of the Keebler Company. The plan called for adding 47,642 square feet of commercial space to the existing 50,000-square foot building to allow the company to expand its distribution operations.
As part of its approval, the Planning Board approved the site plan but with conditions including limiting the hours of operation from 8:30 am to 6 pm.
OA is short for Ottogi America. According to its website, Ottogi America, Inc. was established in Los Angeles, California in May 2005 and distributes Korean foods to American and Canadian markets.
Ramland Road Manufacturing Facility Sells For $10.4 Million
MADT, Inc., sold the property at 33 Ramland Road, long-time home of Arc-Com Fabrics to 33 Ramland Realty LLC for $10.4 million.
Financing was provided by Hudson Valley Credit Union through the assumption of existing mortgage in the amount of $7.53 million.
The 56,000 square foot industrial/manufacturing facility sits on 6.95 acres and was constructed in 1984.
33 Ramland Realty LLC is owned by Nyack and Florida-based Joseph Ende, a pioneer in the automotive parts industry and more specifically the aftermarket automotive part industry.
Industrial Property On Route 303 Sells For $6 Million
The industrial warehouse at 527-529 Route 303 in Orangeburg sold for $6 million. The seller was Joel Lipshitz’s 527 529 Route 303 LLC. The buyer was Stephen McKernan’s Truagh Holdings LLC. The square foot price was $215.
Financing in the amount of $5.4 million was provided by the NYBDC of Latham, NY and Customers Bank of Malvern, PA.
The single-story building is 28,050 square feet and sits on 3.3 acres. It was constructed in 1991. Asking rents at the building are about $15.00 per square foot, plus $2.80 per square foot for common expenses, according to an offering statement from Point West Realty.
The building last sold in February of 2022 for $4.4 million.
Local Developer Pays $60 Million For Shops at Nanuet, Outparcels & Sears Buildings
Gabe Alexander’s companies Nanuet Holdings NY LLC and Nanuet Holdings DE LLC paid $60 million to purchase the Shops at Nanuet, its out parcels, and the former Sears building and automotive center, according to deeds filed with the Rockland County Clerk.
Alexander, a local developer based on Squadron Boulevard in New City, who has a deep portfolio in Rockland County, bought the fatigued mall at 912-1000 Fashion Drive and the Verizon (7 South Middletown Road) and Banchetto (75 South Middletown Road) sites for $52 million. He also snapped up the former Sears buildings and parking lots for $8 million.
Financing was provided by Prime Finance of Chicago, Illinois in the amount of $37 million.
Alexander bought 17 Dykes Park Road, which was transferred to GA Ventures 2 LLC, vacant land off Route 59 to the west of Rockland Plaza. For the full story, click here.
