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Regeneron Pharmaceuticals Purchases Avon in Suffern For $38.875 Million, To be Used For Research & Development Laboratories

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SUFFERN, NY – Avon Capital Corporation, a Delaware Corporation, sold its property holdings at 1 Avon Place in Suffern to Rock County Holdings, LLC. Rock County Holdings, LLC is the realty arm of Tarrytown-based Regeneron Pharmaceuticals, Inc. The property sold for $38.875 million. The 235,000 square foot building complex on 10 acres was the corporate headquarters and global innovation center for Avon Corporation.

According to its application with the Rockland County Industrial Development Agency (IDA), Regeneron plans to use the facility for research and development and for cold storage. The acquisition will enable the company to expand its research efforts against infectious diseases and to further develop its existing portfolio of treatments.

Regeneron plans to spend about $70 million on infrastructure and reconstruction of the existing facility. It also sought and received a sales tax exemption worth about $4 million on an estimated $50 million of improvements, and is pursuing a Payment In Lieu Of Taxes (PILOT) agreement with the Village of Suffern, the Town of Ramapo and the local school district. Avon had enjoyed a PILOT during its tenure at the facility, and was released from its Agreement with the IDA in April of 2023. Regeneron is anticipating 230 full-time jobs with average salaries between $105,000 and $435,000 per year. Construction should be completed in 2026.

“As you may know already, the pharmaceutical company Regeneron has purchased Avon properties. Regeneron is a top-notch company who will bring jobs and hopefully home buyers to our Village. They will also help with foot traffic downtown, which is always good for our local businesses. They will provide approximately 230 jobs, with salaries ranging from $125,000 to $175,000 a year. I wish them well and as Mayor, I will assist them with a smooth transition and hopefully growth in our Village.” said Village of Suffern Mayor Curley.

Full article below from the Rockland County Business Journal here

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The Shops at Nanuet Rebrands as Nanuet Town Centre

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NANUET, NY (May 2025) — In a transformative move signaling a new era for Rockland County retail and community life, The Shops at Nanuet has officially rebranded as Nanuet Town Centre. Under the new ownership of Nanuet Holdings DE LLC, which acquired the property on December 31, 2024, the rebrand marks a major step forward in redefining the space as a vibrant, multi-use destination that combines shopping, dining, entertainment, and residential living.

A Vision Beyond Retail: Welcome to Nanuet Town Centre

The rebranding is more than a name change—it reflects a bold new vision. Nanuet Town Centre is being developed as a dynamic, community-driven lifestyle hub, where visitors can do more than shop—they can connect, celebrate, and live.

“Our goal is to reimagine Nanuet Town Centre as more than a shopping destination,” said Keri Cunningham, Marketing Director of Nanuet Town Centre. “This is about creating a place where people gather, connect and experience something new—whether at a concert, during a lunch break, or while exploring what our businesses have to offer.”

Immediate Enhancements Elevate Guest Experience

Visitors to Nanuet Town Centre are already seeing the first wave of property improvements, which aim to enhance convenience, comfort, and visual appeal:

New exterior signage at all key entry points

Updated property directories and parking signage for better wayfinding

Freshly improved seating areas, lighting, walkways, landscaping, and paint

Upgraded common areas that promote relaxation and community engagement

The transformation is also happening online, with a revamped website and active social media presence to promote events, new tenants, and community partnerships.
Signature Events Kick Off in Summer 2025

To reconnect with the community and bring new energy to the space, Nanuet Town Centre is launching a year-round calendar of events, beginning with a Grand Re-Opening Block Party on June 21 and 22. This event will feature:

Live music and performances

Interactive experiences and local vendors

Special promotions throughout the property

Additional 2025 events include:

Summer Festival with artisan markets, live demos, food and drinks, and family-friendly activities

Summer Picnic Series every Thursday (July 10–Aug 28), featuring Bubble Parties, Mini Golf, DJ Dance Parties, and more

Puppy Pals Live on September 13, an acrobatic dog show made famous by America’s Got Talent

Winter Weekend Events (Nov–Dec), including a Holiday Market, seasonal decor, and festive experiences for all ages

In a community-first initiative, the Centre will also open its event spaces free of charge to local nonprofits, empowering them to host fundraisers, awareness campaigns, and outreach programs throughout the year.
Exciting New Tenants Add to the Experience

Nanuet Town Centre is actively pursuing regional and national tenants known for delivering strong guest experiences. Two highly anticipated new arrivals include:

Golf Lounge 18 – A premier indoor golf and sports entertainment venue, featuring cutting-edge simulators for players of all skill levels

Karako Suits – A respected menswear brand with locations across New York and New Jersey, known for high-quality suits and expert tailoring

These openings bring fresh energy and foot traffic to the evolving retail and entertainment landscape.
Phase 2 Development: Nanuet Town Centre as a Mixed-Use Destination

As part of its long-term revitalization strategy, the property is preparing for Phase 2, which will include:

A complete facade redesign of the former Sears building

Luxury residential apartments for convenient, walkable living

Development of three standalone pad sites for new restaurants or services

A 1.25-mile walking trail to promote wellness and connectivity

A thoughtfully designed layout that balances community, commerce, and comfort

A New Standard for Community-Centered Development in Rockland County

With its bold rebrand and forward-thinking approach, Nanuet Town Centre is set to become Rockland County’s premier lifestyle destination—a vibrant space where people come to shop, dine, play, and live.

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Grand Opening: Karako Suits Celebrates Launch at Nanuet Town Centre May 8

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Nanuet Town Centre is thrilled to welcome Karako Suits, a trusted name in quality menswear, to its growing collection of fashion and lifestyle retailers.

Founded in 1982 on Manhattan’s Lower East Side, Karako Suits is a family-owned business known for its deep community roots, personalized customer care, and expertly tailored menswear. With locations across New York and New Jersey, the brand has earned a reputation for timeless style and exceptional service.

Karako Suits brings a legacy of timeless style and personal service to Nanuet,” said Keri Cunningham, Marketing Director of Nanuet Town Centre. “We’re excited to welcome them as we continue to add brands our community knows, loves, and trusts.”

Located next to Playa Bowls, the new store offers a full range of men’s fashion—including suits, dress shirts, ties, accessories, and on-site professional tailoring to ensure a perfect fit. Karako Suits is also the exclusive retailer of FUBU Suits, a streetwear-inspired collection that features bold, modern styles, unique linings, high-quality fabrics, and the signature red FUBU lapel pin.

Join us for the grand opening ribbon-cutting ceremony on Thursday, May 8 at 12:00 PM.

For more information, visit KarakoSuits.com or follow Nanuet Town Centre on Instagram @nanuettowncentre and online at NanuetTownCentre.com for the latest updates.

Photos courtesy of Karako Suits

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