The Business Journal - Week of June 13, 2022

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AWARD WINNING EDITORIAL

INCLUDING THE HUDSON VALLEY JUNE 13, 2022 VOL. 58, No. 24

westfaironline.com

STRONG DEMAND SEEN FOR INDUSTRIAL AND MULTIFAMILY DEVELOPMENT BY PETER KATZ

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Pkatz@westfairinc.com mazon’s recently announced effort to unload from 10 million to 30 million square feet of its industrial real estate should not put even a dent in the market for industrial space, according to one of the real estate experts at Westfair Communications’ “The Future of Real Estate” event held on June 7 at the C.V. Rich Mansion in White Plains. “They had roughly 400 million square feet as of the end of last year,” said Joe Vaccaro, founding partner of the commercial real estate developer V20 Group, which is based in Darien. “Shedding 10 or 20 million square feet really is not going to move the needle in a material way. It certainly could impact some submarkets where a million or a million and a half square feet comes on the market if they’re shedding a couple of warehouses and subletting them back to the marketplace. But, in general, if you look at last year there was

REAL ESTATE

BY PETER KATZ

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Christopher Harrison of Advance Testing Company Inc. and Jean Coney of Langan Engineering & Environmental Services at Westfair Communications’ “The Future of Real Estate” event. Photos by Alexandra Cali.

NY business groups want assault weapons ban; Hochul signs new gun laws

Pkatz@westfairinc.com

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Jill Silverberg and Amy Rose of Rose Associates at Westfair Communications’ “The Future of Real Estate” event .

ust hours before New York Gov. Kathy Hochul signed into law a package of 10 bills that tightened the state’s gun regulations, and while word was circulating on Capitol Hill that some sort of limited bipartisan action on gun control appeared possible, five business groups from around New York state were issuing a call for Congress to reinstate a

ban on assault weapons. The move came in the wake of the growing number of mass shooting events in the U.S. in which assault weapons such as the AR-15 have been used. During a virtual news conference on June 6, representatives of The Business Council of Westchester, Business Council of New York State, Buffalo Niagara Partnership, Brooklyn Chamber of Commerce and Greater Rochester Chamber

of Commerce made it clear that they feel there are no more excuses for not restricting civilian access to assault weapons, designed as weapons of war. “The tragic, brutal and senseless shootings that we have witnessed over the last two weeks must be a final wakeup call that new federal legislation has to be adopted to finally address the glaring holes in the criminal justice system,” said John Ravitz, executive vice presi-

dent and COO of The Business Council of Westchester. “Real solutions are necessary to prevent the horrific tragedies that this country continues to face.” Ravitz said that it is important for the business community statewide to stand together in the wake of the carnage the country has been experiencing. “These are not isolated incidents and they’re happening in urban and rural areas all across our country,” Ravitz said.

“Legislators now in Washington need to understand that … there is a way to begin to fix this problem.” Ravitz said that every member of Congress must look in the mirror everyday before going to work and ask, “Am I doing all I can to prevent these types of heinous, horrific, brutal crimes that are occurring unfortunately almost on a daily basis in our country?”

NEW GUN LAWS

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