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R&D giant leases 66,000 s/f of lab space in Brewster, NY.

Akzo Nobel, a Global Fortune 500 Company based in the Netherlands, has committed to a 66,000 s/f lease at the Orchard Ridge Building 2, located at 281 Fields Lane in Brewster, NY.

Currently located at 1 Livingstone Avenue in Dobbs Ferry, NY, the Surfactants Research and Development Laboratory and support staff plans to relocate in November 2006.

Paul Hoffmann of CB Richard Ellis' Stamford office negotiated the 10-year lease on behalf of Akzo Nobel. Friedland Realty, Inc. represented the building ownership, Orchard Ridge Associates.

"Akzo looked at numerous properties in the lower Hudson Valley and western Fairfield County to satisfy their functional needs for lab and office space, with a concern for their existing employees," said Hoffmann.

"The quality of the building, its' existing improvements, as well as the responsiveness of local and state agencies and incentives, helped create a compelling argument to remain in New York State."

Orchard Ridge will house Akzo Nobel's product and process research for several of the company's business units.

Totaling 82,000 s/f of office, industrial and laboratory space, the finished space was originally designed by CIBA in order to meet specific research and laboratory needs.

The space was later leased to Vantico and Huntsman--both specialty chemical companies. The building is conveniently located in close proximity to Interstate 684 at the Putnam / Westchester County border.
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Publication:Real Estate Weekly
Date:Nov 1, 2006
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