According to a story in Long Island Business News, Serota Properties recently sold a 138-acre site in Holbrook for an undisclosed amount. Scannell Properties, a privately owned real estate development and investment company headquartered in Indianapolis, IN, did not say what they plan to do with the property. Scannell focuses on build-to-suit and speculative development projects internationally.
A website also announcing the news called Project Sunrise says that the property is located near Sunrise Highway and Veterans Memorial Highway. This is Scannell Properties’ 18th development project in the state of New York.
“We will be working with the Town of Islip and the local community to determine specifics around the intended use for the property,” Matt Boone, development manager at Scannell Properties, is quoted as saying on the website. “Right now, we are gathering information to assist us as we prepare a plan for future development of the land.”
It is unclear if the Project Sunrise website is associated with Scannell Properties.
Check back with LongIsland.com for updates.