Cosmetics giant Avon unloads Rye facility for $23M

Avon Capital Corporation, the domestic real estate and financing vehicle controlled by the cosmetics giant of the same name, has parted ways with a property in Rye, the Daily Voice Plus reported. The vehicle sold the 176,000-square-foot facility located at 601 and 621 Midland Avenue to a limited liability company called Midland Rye — a vehicle controlled by George Comfort & Sons, the Feil Organization and O’Connor Capital Partners — for $23.1 million, according to the outlet. The facility sits on 18.13 acres of land and used to house Avon’s data center, as well as other related operations. “Midland Avenue garnered substantial interest from investors, users and developers due to its unmatched transit-centric location and superior access to knowledge workers in one of Westchester’s most prestigious communities,” said Kevin Welsh, an executive managing director at Newmark Knight Frank, which brought in the buyer and worked on behalf of the seller. Real Estate Weekly reported that Actio Corporate Asset Advisors also advised Avon on the sale. Avon laid off all of its 105 workers in Rye last December. [DVP]