Hain Celestial is moving its Suffolk headquarters to Nassau County, lured by incentives that will allow it to more than double in size by leasing nearly 90,000 square feet at the iPark complex in Lake Success.
The move will bring 315 new jobs to the cash-strapped county. In exchange, Hain will get real-estate tax breaks under a 16-year deal, along with sales and use tax exemptions. The state is also kicking in $4.5 million in job program tax credits as part of the deal.
The new headquarters for the health food and personal-care products company will be in a freestanding building at 1111 Marcus Ave. being vacated by Axa Financial.
Hain, whose brands include Health Valley and Arrowhead Mills, will build a test kitchen and test lab, along with a new roof-deck. CEO Irwin Simon makes many appearances on food and financial shows.
The company expects to move at the end of the year from its 35,000 square-foot-half floor at RXR’s 58 S. Service Rd. in Melville
Brian Waterman, Lance Korman and Scott Berfas of Newmark Grubb Knight Frank represented Hain Celestial. David Leviton, previously with Cushman & Wakefield and now with CBRE, represented the owners, AREA Property Partners, who were also repped in-house by Richard Mack.
Current asking rents for space in the 1.1 million square foot complex are $29 a square foot.
