Brookfield Fund Acquires Former Manufacturing Site in Nassau County
Simone Development Companies has sold the 15-acre former site of the RUCO Polymer Corp. in Hicksville, NY, within Long Island’s Nassau County. The buyer, a Brookfield Asset Management real estate fund, plans to develop a modern, high-ceiling warehouse distribution center on the site. Deal terms weren’t disclosed.
Jim MacDonald, VP of leasing for Simone Development, represented the seller in negotiations. CBRE’s Paul Leone represented the Brookfield fund.
“Well-located industrially zoned land for development is extremely rare and Simone Development is extremely pleased to find a buyer well-equipped to realize the site’s full potential,” said Joseph Simone, president of Simone Development. “With its close proximity to the Long Island Expressway, as well as an existing rail spur, the site is well-positioned for industrial development.”
The site originally held a RUCO manufacturing facility built in 1945. The facility’s eventual owner, the Bayer Corporation, closed it in 2002.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).