Work starts on Park Project
Tenants sought for building as construction begins on new Rotterdam warehouse
Wanted: Enough tenants to fill four football fields of real estate.
Workers broke ground on a 200,000square-foot warehouse at the Rotterdam Corporate Park this week.
Now economic development officials are scouting out prospective tenants.
“We have strong interest in the building,” said Ray Gillen, chairman of Schenectady Metroplex Development Authority. “We have a number of tenants looking at it.”
The 17 Rotterdam Corporate Park Project is the latest addition to the site owned by the Schenectady-based Galesi Group, which will serve as general contractors for the $8.2 million project.
“We’re pretty bullish on the Rotterdamglenville corridor,” said Dave Buicko, CEO and president of the Galesi Group, citing proximity to I-890 and the New York State Thruway.
All permits have been secured for the project, which sits on a 12-acre parcel as part of a broader 4-million-square-foot corporate park, the biggest in the Capital Region, Gillen said.
Metroplex approved a series of financial incentives, including a payment-in-lieu-of-taxes agreement and mortgage exemption, on Wednesday.
While Buicko is bullish on prospects for the site, officials are also continuing to seek tenants for a 240,000-square-foot warehouse vacated by a Long Island-based produce distributor at the onset of the pandemic, citing COVID -19 shutdowns.
“We’re actively showing that space,” Gillen said.
Multiple prospects have toured the site recently, Gillen said, which includes 100,000 square feet of cold storage. “That’s high on our agenda to fill that space.”
Metroplex, Galesi Group and National Grid have invested $20,000 to market the facility.
Buicko said Galesi aims to have construction completed by early fall.
The Galesi Group earlier this year completed a 250,000-square-foot building that is occupied by Fedex and Home Depot.