Ecco Acquires Dutchess County Shopping Center

PAWLING, NY-A Yonkers-based development firm has acquired a 32,000-sf shopping here from Agriventures Realty Inc. of New Milford, CT. Officials with Ecco Development LLC, an affiliate of construction firm Ecco III Enterprises say the firm plans to completely renovate the center and convert it into a multi-tenant building. The firm has hired Triad Realty LLC of Yonkers as the exclusive leasing agent. No sale price was disclosed.

The property at 158 Route 22 is fully occupied by Agriventures Retail, which operates a Pawling Agway store there. David O’Leary, president of Agriventures Retail, says his firm sold the building to Ecco Development and plans to lease about half of the building for its Pawling store. He says that negotiations are ongoing to finalize a lease for approximately 15,000 sf, stressing that the company plans to reduce the size of the current store, not close it.

The 158 Route 22 property was a former Ames department store. Agriventures acquired the lease and property in March 2003. Shortly thereafter, the company moved its Pawling Agway store from a location about a mile away. The property is also adjacent to a 45,000-sf Hannaford Supermarket, which opened several years ago.

Agriventures acquired four Agway stores when the retail chain was going out of business in March 2000. The company currently operates five locations. Two are in New Milford, CT and the others are located here, in Torrington, CT and in Danbury, CT.

Ecco Development owns approximately 400,000 sf of industrial space in the Nepperhan Valley of Yonkers, including the former Carvel manufacturing facility and the former Dellwood distribution complex. In addition, the company also owns 99 Business Park Dr., a 75,000-sf office/flex building in Armonk, NY.