In October of 2018, Hartz entered the Long Island market for the first time with the significant acquisition of the 48 acre Newsday headquarters and newspaper printing facility at 235 Pinelawn Road in Melville, NY. The acquisition furthers Hartz Mountain’s strategic growth of its infill industrial portfolio. Newsday has long planned to vacate the building and Hartz is in the planning stages of a potential redevelopment of the 48 acre site.
Development sites of this size, quality and infill location are a rare occurrence but also make for complex and difficult projects. As such, the seller, Tribune Media required a purchaser with considerable experience redeveloping such projects. Hartz Mountain’s historical success of developing urban infill sites and tackling the legal, environmental and regulatory challenges these sites provide led Tribune Media to select Hartz as its preferred purchaser of the Newsday site.