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Onyx Equities Sells 100 Corporate Drive To Restaurant Depot Affiliate for $18 Million
The commercial/industrial property at 100 Corporate Drive in Blauvelt sold to JMDH Real Estate of Blauvelt LLC for $18 million. The seller was Woodbridge, NJ-based Onyx Equities through PG OE 100 Corporate Drive Owner LLC. The buyer, Whitestone, NY-based JMDH is affiliated with Restaurant Depot, the main tenant at the site.
The 125,000 square foot building was constructed in 2009 and sits on 6.92 acres.
Restaurant Depot occupies about 60,000 square feet on the ground floor.
Plans for a brewery/beer hall proposed in 2022 by District 96 never materialized, and space on the upper level has remained vacant.
In 2019, a partnership between Onyx Equities and global investor Angelo Gordon acquired the 17-builiding industrial Bradley Corporate Park in Blauvelt for $116.8 million. The property is marketed at Hudson Crossing Industrial Park.
Orangetown Acquires Six Acres on South Nyack Waterfront For $3.05 Million For Possible Waterfront Park
Living Christ Church of the Christian and Missionary Alliance Inc., sold its property at 149-157 Piermont Avenue in South Nyack to the Town of Orangetown. The waterfront property, consisting of 6 acres, sold for $3,050,000.
The seller, a nonprofit religious institution received court approval for the sale from Rockland County Supreme Court Justice Rachel Tanguay in August. Conditions of the sale were detailed by the court and included the order allowing the sale to the town.
The seller had to pay for the removal of two underground storage tanks and undertake site remediation as needed. The town was tasked with paying for the demolition of the existing structures after closing.
Of the net proceeds, $100,000 is dedicated to helping Nyack’s poor including the church’s Sunday Supper program; $100,000 for grants administered by the Metropolitan District of the Christian and Missionary Alliance; $100,000 to support missionaries of the Living Christ Church; about $500,000 to pay for improvements at other properties in Nyack owned by the Church. The balance of the proceeds will be invested for the Church’s longer-term needs.
Plans for the property have yet to be revealed, but Orangetown Supervisor Teresa Kenny said she envisions a waterfront park at the site. The site would be Orangetown’s first acquisition of waterfront property. A resolution was unanimously approved by Orangetown’s town board back in June authorizing the town to acquire the property.
Chestnut Ridge Commercial Properties Acquired For $1.95 Million
SBFAJT Realty LLC acquired two parcels at 593 Chestnut Ridge Road and 9 Talman Street in Chestnut Ridge. The seller was New Jersey-based RC Chestnut LLC. The price for the two parcels was $1.95 million.
The commercial properties contain 1.76 acres combined: 9 Talman is 1.16 acres and 593 Chestnut Ridge Road is .58 acres. Access is through Talman Street.
The purchaser is related to Mr. Landscape, Inc., located at 601 Chestnut Ridge Road. Mr. Landscape Inc., according to its website, has been servicing Rockland, Bergen, Orange, Westchester, and Fairfield counties since 1981. The property, across Talman Street, at 601 Chestnut Ridge Road was acquired by SBFAJT in 2002 for $237,500.
Other Transactions:
The 1.36 acre industrial property at 568 Route 303 in Orangetown was sold by K&P Paving Corp. to LJCGUEZ, LLC for $1.8 million.
