NEW YORK—Bloomberg LP has signed a lease for a new, 131,805-sq.-ft. build-to-suitcenter in Orangetown, N.Y. being developed by a joint venture of Russo Development and Sentinel Data Centers, which will retain ownership of the property.
Michael J. Pembroke, senior vice president of leasing and marketing for Russo, represented the ownership in the lease.
“We are very pleased to welcome Bloomberg to Orangetown," said Andy Stewart, supervisor for the Town of Orangetown. "Bloomberg’s decision to locate here shows that Orangetown is back on track and able to work effectively with investors to meet our community’s needs for appropriate commercial development, jobs and a solid tax base.”
The Rockland County Industrial Development Agency endorsed Orangetown’s resolution to provide the project with a partial tax abatement package and Bloomberg’s lease agreement is conditional upon final authorization by the county executive.
Upon completion, the facility will be a single-story property with infrastructure to provide in excess of 7MW of critical capacity. Delivery is expected in mid-2014.