Hicksville industrial site used by commercial printer sold for $10 million

A Hicksville building that formerly housed a printing business has been sold for $10 million to a Westchester real estate investment firm, according to brokers and Nassau County property records.

The industrial building, at 840 S. Broadway near a Lowe’s Home Improvement, has been sold by its owner, F.C. Properties, to The Renatus Group of Port Chester in Westchester County. The new owner plans to invest in improvements to the 55,000-square-foot facility, including raising the roof to 28 feet, brokers on the deal said.

"We're excited to represent The Renatus Group in this acquisition to further their portfolio here on Long Island," said Thomas DeLuca, managing director at the Melville offices of commercial brokerage Cushman & Wakefield, which represented both the buyer and seller in the deal.

"It's a very unique property and asset in a constrained market like Nassau County," DeLuca said. "We're excited about the future improvements that Renatus intends to complete at the property."

The real estate investment firm intends to spend "millions" on upgrades to the property, said Stephen Matri, principal at The Renatus Group.

“It’s just an awesome location in a really dense market where good products on large parcels of land are hard to find,” Matri said. While a new tenant isn't likely to move in until the end of next year, Matri said the property would likely garner interest from building materials businesses given the site's access to outside storage space.

In addition to the roof work, the new owner plans to renovate existing office space at the site, install a new commercial grade sprinkler system, repave the parking lot and make improvements to loading bay areas, DeLuca said.

Improvements are expected to begin during the first quarter of 2027, he said.

The property had long been the local manufacturing site for Coral Graphic Services Inc., a printing business that makes book covers, dust jackets and inserts.

The company had said in a state Worker Adjustment and Retraining Notification that it would be laying off 85 of its 95 workers starting June 30 as part of a larger business relocation effort, Newsday reported.

Coral, owned by parent company Bertelsmann Printing Group, does business as BPG USA, according to the company’s website.

"We will be handling the business of Coral Graphic Services at our existing sites in Virginia, West Virginia and Pennsylvania going forward," Gernot Wolf, who works in corporate communications at BPG USA, said in a statement to Newsday. "Coral Graphic will have no manufacturing plant on Long Island in the future."

Wolf said neither Coral nor BPG owned the property, and that relocation of the business was "driven by the fact that the building and property was sold to a new owner."

Layoffs are expected to be completed at the site on Oct. 29, according to the state WARN notice.

The state's WARN Act requires companies with at least 50 full-time employees to file notice of a mass layoff or business closure 90 days in advance.