NEW YORK—The Hain Celestial Group Inc., a natural and organic products company, has leased new office space in Lake Success in Nassau County. Its new, 86,000-sq.-ft. location will serve as its international corporate headquarters.
Brian Waterman, Lance Korman and Scott Berfas of Newmark Grubb Knight Frank represented Hain Celestial in the transaction. David Leviton of CBRE represented ownership, AREA Property Partners, working with Richard J. Mack in-house.
Supported by an incentive package from Empire State Development of $4.5 million in Excelsior Jobs Program tax credits, Hain Celestial will lease and make capital improvements to the facility as part of the relocation from Melville. The company is working with local firms to retrofit the space for offices. Plans also include building a research and development center.
With tax incentives provided by the State of New York through Empire State Development and the Nassau County Industrial Development Agency, Hain Celestial has committed to investing $10 million as part of its office relocation and expansion of its operations.
Pending final Board approval, the Nassau County Industrial Development Agency will provide Hain Celestial with a 16-year payment in lieu of taxes (PILOT) agreement and a sales and use tax exemption for up to $603,750 in purchases for furniture, fixture and equipment related to the renovation of their international headquarters. In return for the tax incentives, Hain Celestial should bring at least 315 net new jobs to Nassau County.
The company employs approximately 4,000 employees worldwide with approximately 1,200 in the U.S.