500 Commack officialy up for sale

Quote












Anonymous said:
http://www.newsday.com/business/forest-laboratories-selling-commack-building-1.8042712



Drugmaker Forest Laboratories Inc. is selling its cavernous building in Commack, a company official confirmed.

The Manhattan-based maker of branded-prescription medicines used to treat Alzheimer's disease, depression and other ailments has put 500 Commack Rd. on the market for $45 million, according to an advertisement from brokerage CBRE.

The move comes after Forest has spent millions of dollars to convert the building from a packaging plant to offices and labs, as part of a consolidation of nine properties in Suffolk County. Work on the conversion was recently stopped.

MARKET LINKS: Live Market Summary | Earnings News | Popular Mutual Funds | Check Bonds | Energy/Metal Futures | Press Releases

Forest agreed in February to be purchased by another industry leader, Actavis Plc of Dublin, Ireland for $25 billion.

"Following a full evaluation of our space requirements on Long Island, and taking into consideration recent head-count changes and cost reduction objectives, Forest has made the decision to exit our 500 Commack Rd. facility by about spring of 2015," company spokeswoman Amanda Kaufman said Thursday night.

She said 100 people work in the building and its sale "does not have any impact on head count nor is it indicative of any future plans related to employment."

Forest has more than 600 workers locally out of 5,800 across the globe. In December 2013, the company embarked on a "rejuvenation" plan that officials said would reduce its Suffolk payroll between 10 and 20 percent.

The Commack Road building, near Northern State Parkway, is more than 400,000 square feet and sits on 33.8 acres, the sale listing states.

The building may be one of the largest industrial properties in Suffolk to come on the market in recent years, said Jack O'Connor, a principal at the Melville office of brokerage Newmark Grubb Knight Frank.

"A space that size is probably going to be difficult for a Long Island user," he said, adding there was little interest from local companies in a couple of 100,000-square-foot industrial properties he is representing in Hauppauge. "I would think it would have to be a developer coming in to rehab the building and convert it into office space or multitenant space."

Besides the Commack Road building, the drugmaker owns two other offices in Commack and two in Hauppauge.

The spokeswoman said Friday that Forest sold a another 180,000-square-foot building, also in Commack, in the past year. That space had been rented to other businesses.

Forest sought help from governments in 2010-11 to consolidate its operation. The $40-million plan was backed by $3.3 million in tax credits from New York State, and $2.2 million in tax breaks from Suffolk. In return, Forest promised to add 10 jobs.

Anthony J. Catapano, acting director of the county's industrial development agency, said Friday it would "review all options . . . which could include benefits recapture."
Click to expand...

Good riddance.... There is no worse place in the U.S. to have a training facility for a National Company, and this coming from a pro Forest guy. I dreaded going to training everytime I did. Fly to the dirtiest airport in America, get on a shuttle and arrive at training center 90 minutes if you are lucky.
 




Anonymous said:
Good riddance.... There is no worse place in the U.S. to have a training facility for a National Company, and this coming from a pro Forest guy. I dreaded going to training everytime I did. Fly to the dirtiest airport in America, get on a shuttle and arrive at training center 90 minutes if you are lucky.
Click to expand...

Yes, Long Island truely sucks. High taxes, traffic gridlock, unhappy citizens, high crime, ugly woman, over priced houses on postage stamp lots, lousy schools, lousy weather. So if this facility goes to DHS for homeland security and incarceration that's probably the best use for this white elephant.
 




Anonymous said:
Yes, Long Island truely sucks. High taxes, traffic gridlock, unhappy citizens, high crime, ugly woman, over priced houses on postage stamp lots, lousy schools, lousy weather. So if this facility goes to DHS for homeland security and incarceration that's probably the best use for this white elephant.
Click to expand...

Agree. That's why Forest reps avoid LI at all cost. Armpit area.
 




Anonymous said:
Yes, Long Island truely sucks. High taxes, traffic gridlock, unhappy citizens, high crime, ugly woman, over priced houses on postage stamp lots, lousy schools, lousy weather. So if this facility goes to DHS for homeland security and incarceration that's probably the best use for this white elephant.
Click to expand...

Spoken like the gap toothed, hayseed sucking hick that you are. You've never seen the spectacular side of LI because we don't allow the spitting of chaw juice on the guilded streets. Please stay in you $125k 10,000 foot house in the middle of east bumfuck Gomer, we never wanted you here to begin with.
 




Anonymous said:
Spoken like the gap toothed, hayseed sucking hick that you are. You've never seen the spectacular side of LI because we don't allow the spitting of chaw juice on the guilded streets. Please stay in you $125k 10,000 foot house in the middle of east bumfuck Gomer, we never wanted you here to begin with.
Click to expand...

Where's the Like button?
 




While I don't necessarily like a lot of the baggage that comes with living on Long Island, it's a hell of a lot better than living in any of the shitkicker flyover towns in middle America where you guys get excited when a Dominos pizza opens in town.
 




Anonymous said:
While I don't necessarily like a lot of the baggage that comes with living on Long Island, it's a hell of a lot better than living in any of the shitkicker flyover towns in middle America where you guys get excited when a Dominos pizza opens in town.
Click to expand...

I lived on the 'gisland' and found it awful. Most rude people I ever met, most political corruption, most taxed and traffic congestion awful, couldn't
Get away fast enough. I'll take Oregon any day over Huntington. You Commack workers God bless you someone has to livr in that S-hole. AND DONT knock the flyover country thode people have real values and are not arrogant and crude like gislanders.
 




Perhaps you don't know squat about Long Island. I've got 3 first class hospitals within 20 minutes of my house; 5 world class pizzarias; fantastic sailing and Blackfishing on Long Island Sound; premier beaches on the ocean. There's over 20 vineyards a short drive away. Skeet shooting in Yaphank, excellent canoeing on the Nessequage and Carmen's rivers, shark fishing off Montauk, mountain biking in the Pine Barrens, and parachuting near the Hamptons. Blues festivals in Patchauge and Mt. Sinai, berr festivals at the Colleseum, over a dozen craft breweries, too.

Maybe you should get off your couch, quit bitching, and look around a little.
 








Anonymous said:
Perhaps you don't know squat about Long Island. I've got 3 first class hospitals within 20 minutes of my house; 5 world class pizzarias; fantastic sailing and Blackfishing on Long Island Sound; premier beaches on the ocean. There's over 20 vineyards a short drive away. Skeet shooting in Yaphank, excellent canoeing on the Nessequage and Carmen's rivers, shark fishing off Montauk, mountain biking in the Pine Barrens, and parachuting near the Hamptons. Blues festivals in Patchauge and Mt. Sinai, berr festivals at the Colleseum, over a dozen craft breweries, too.

Maybe you should get off your couch, quit bitching, and look around a little.
Click to expand...

I commend you for loving the island but don't repeat the Chamber of Commerce talking points. I grew up on the island and know all to well the social and economic problems endemic in the area. I appreciate that you can accept the congestion, traffic, political corruption in Nassau and Suffolk etc but you deserve better as a Forest employee. Closing Commack may actually be your way to get out of Dodge.

Finally got a position in Northwest and find its awesome.
 
































Top Bottom
Back
Quote