David Winzelberg //April 5, 2024 //
120 Commerce Drive Hauppauge / Courtesy of Newmark
Electronics firm expands with $6.6M Hauppauge acquisition
120 Commerce Drive Hauppauge / Courtesy of Newmark
David Winzelberg //April 5, 2024 //
A Long Island electronics manufacturer is expanding with the acquisition of an office/flex property in Hauppauge.
Ashi Properties LLC, an affiliate of Orbic Electronics, purchased a 27,700-square-foot building on 3 acres at 120 Commerce Drive for $6.6 million.
Orbic manufactures cell phones, laptop computers and other electronic devices and its Hauppauge acquisition is part of the company’s “Project Patriot” plan to bring as many as 1,000 manufacturing jobs from China to Long Island in the next five years.
In January, Orbic received economic incentives from the Suffolk County Industrial Development Agency for its $30.75 million project to renovate and equip its 70,000-square-foot building at 555 Wireless Blvd. in Hauppauge. The company pledged to add more than 500 jobs two years after the renovation project, which is expected to be completed in the first quarter of 2025, according to its IDA application.
“This initiative is a stride forward in our vision of a sustainable, job-creating future. Project Patriot is set to be a very exciting time in our company’s history, and Suffolk County is the perfect location for the bulk of our work to advance the production of American-Made products and grow American manufacturing jobs,” Mike Narula, president and CEO of Orbic Electronics, said in a company statement. “Having our products read ‘Made in America’ is a tremendous point of pride for us, and it will also allow our company to bolster the local economy, helping other vendors in Suffolk County succeed alongside us.”
Daniel Gazzola and Chuck Tabone of Newmark represented the buyer, while Daniel Brandel and Robert Seidenberg of CBRE represented the seller, Crown International Trading Corp., in the Commerce Drive sales transaction.
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