SUFFERN, N.Y. — Raymour & Flanigan has acquired the 900,000-square-foot Tri-State Logistics Center in Suffern from Dress Barn. The furniture retailer plans to renovate the property into a regional distribution center.
The purchase price of the center, which is located at 30 Dunnigan Dr., was not disclosed. However, Gov. Andrew Cuomo announced in June that Raymour & Flanigan was set to spend $46 million in buying and renovating the Rockland County warehouse.
Headquartered in Liverpool, N.Y., Raymour & Flanigan has grown from four stores in 1982 to 95 stores across New York, New Jersey, Pennsylvania, Delaware, Connecticut, Massachusetts and Rhode Island.
Jones Lang LaSalle (JLL) represented Dress Barn in the transaction.
“We were able to uncover a number of potential buyers and tenants, but felt this deal was the best fit for our client and the property,” says Robert Kossar, managing director of Jones Lang LaSalle's Hasbrouck Heights, N.J. office.
“Raymour & Flanigan clearly saw the benefits of this facility. In this market, there are very few options in this size range, and with easy access to the New York State Thruway. The location is perfect for Tri-State area distribution.”
Dress Barn decided to sell the property in late 2010 and move its distribution operation to a facility it owns in the Midwest. JLL also recently advised the women's apparel chain in purchasing an office building in Mahwah. The Mahwah property will serve as Dress Barn's headquarters and the company is relocating approximately 400 employees who are currently staffed at the Suffern facility.
The Tri-State Logistics Center includes modern features such as a 32-foot clear ceiling height, loading doors, rail access, heavy power and a sufficient surrounding area for trailer and car parking. The property also contains approximately 16 acres of excess land, which can be used for trailer parking or a potential building expansion. Par Pharmaceuticals occupies a portion of the building.
The building is at Exit 14-B off the New York Thruway and is in close proximity to the Garden State Parkway, Tappan Zee Bridge, Routes 17 and 9W, Interstate 684 and Interstate 84. The facility is also approximately one mile from the New York/New Jersey border.
Kossar, David Knee, Robert Martin, Blake Chroman and Chris Hile of JLL represented Dress Barn in the transaction. Joel Friedman of Team Resources SBWE represented Raymour & Flanigan.
— Liz Burlingame