Little houses draw big interest in mansion-heavy Hamptons market
New Jersey-based Hartz Mountain Industries closed the $54.5 million deal to buy the Melville building that has been leased to Newsday from the Tribune Media Company, according to LIBN. Hartz Mountain plans to redevelop the 48.5-acre site into a warehousing and distribution complex. Newsday has operated at the site since 1979. The newspaper will move to new offices at 2 Corporate Center Drive and plans to lease 120,000 square feet on that building’s second and third floors. Three groups in CBRE represented Tribune Real Estate Holdings in the sale. They included Jeffrey Dunne, Steven Bardsley and Travis Langer of the company’s Institutional Properties Group; Philip Heilpern, Martin Lomazow and Matt Manoogian of CBRE’s Melville office; and Adam Seltzer’s Los Angeles office. [LIBN]
