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Archive for the 'Office market' Category

Fabrication Enterprises renews lease, expands in Elmsford

June
3

Mack-Cali Realty Corp. said that Fabrication Enterprises Inc. had signed a six-year lease renewal for 21,000 square feet of space at the Cross Westchester Executive Park in Elmsford, and was expanding into an additional 16,000 feet.
The company makes and distributes products for physical therapy, rehabilitation, home health and sports medicine. It also renewed a lease for 21,000 square feet at a third location at the office park for six years.

Posted by Jerry Gleeson on Wednesday, June 3rd, 2009 at 3:21 pm |
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Diebold, Acorda sign new leases

March
19

A global security business is consolidating three separate offices into a single site in Elmsford, and a biotechnology company has renewed its lease in Hawthorne, Mack-Cali Realty Corp. said.
Diebold Enterprise Security Inc. has signed a seven-and-a-half year lease for 32,000 feet at 3 Westchester Plaza, at the Cross Westchester Executive Park, Mack-Cali said. Diebold will move staff from three different buildings on Lafayette Street in White Plains to the new site in May.
The building is 84.9 percent leased. Diebold was represented by CB Richard Ellis’ Executive Vice President William V. Cuddy Jr. and Senior Associate Timothy C. Donohue. Mack-Cali Vice President of Leasing Jeffrey Warner and Senior Director of Leasing Carol McGuire represented the landlord.
Mack-Cali also announced that Acorda Therapeutics Inc. has signed a three-year lease renewal for 46,000 feet at 15 Skyline Drive in Hawthorne. The building is fully leased.

Posted by Jerry Gleeson on Thursday, March 19th, 2009 at 4:31 pm |
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FirstService Williams to market 333 Westchester Ave.

January
20

Cohen Brothers Realty Corp. in Manhattan has tapped FirstService Williams in Stamford, Conn. to exclusively market leases at Cohen’s 500,000-square-foot office building at 333 Westchester Ave. in White Plains. About 150,000 square feet of space is currently available for direct lease, FirstService said.

Posted by Jerry Gleeson on Tuesday, January 20th, 2009 at 5:34 pm |
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Wachovia offices to leave downtown White Plains

January
15

Wachovia Securities, recently acquired by Wells Fargo & Co., will leave downtown White Plains in May for the Platinum Mile along the I-287 corridor.
Wachovia will move from offices at 10 Bank St. and 360 Hamilton Ave. and consolidate on a 74-acre campus at 1133 Westchester Ave., owned by RPW Group. Wachovia signed a minimum 10-year lease for 26,000 square feet at 1133 Westchester, the commercial brokerage Cushman & Wakefield said.
The deal is the first large office lease to be announced in 2009. RPW President and Chief Executive Robert P. Weisz said about 80 to 100 Wachovia employees are moving. Officials for Wachovia could not be reached for comment.
Weisz said the financial company was drawn by 1133’s amenities, including a conference center, an executive dining room, shuttle service to local train lines, and on-site day care. Provident Bank has signed a lease to open a branch office at the building in March, he added.
“By having it all in one building, it’s more convenient than anything, even in a downtown,” Weisz said.
About 150,000 of the 640,000 square feet at the building are available. Other tenants include ITT Corp., IBM, Starwood Hotels & Resorts Worldwide, and EMC Corp. Asking rent at the building is $35 a square foot, said Glenn Walsh, senior director at Cushman & Wakefield.

Posted by Jerry Gleeson on Thursday, January 15th, 2009 at 6:06 pm |
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AFP Imaging Corp. to remain in Elmsford home

July
21

AFP Imaging Corp. has extended its lease for 48,000 square feet at 250 Clearbrook Road in Elmsford for 10 years, Austin Corporate Properties said.

AFP Imaging is a public company that develops and makes medical, dental and veterinary imaging products. The company has had its headquarters at the building owned by Mack-Cali Realty Corp. for nearly 25-years.

Austin Corporate Properties represented AFP Imaging in the lease negotiations.

Posted by Jerry Gleeson on Monday, July 21st, 2008 at 1:38 pm |
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New day care at White Plains office park

June
24

The latest tenant at 1133 Westchester Ave. in White Plains will be welcomed by working parents both in and out of the building.
Children’s Corner Learning Center has leased 10,000 square feet at the office building and officially opens this Monday. The day care center already has signed up about 30 children, and can accommodate 114.
It’s the fifth child care operation in the Lower Hudson Valley that’s been opened by Center Management Associates Inc. of Greenburgh. Managing Director Anthony Ross said his company has two sites in New Rochelle, one in Scarsdale, and a fourth at Blue Hill Plaza in Pearl River. It’s negotiating for another site in White Plains as well, he said.
Child care centers in office buildings aren’t as easy a fit as parents might think. Until about a year and a half ago, the zoning in White Plains didn’t allow for both uses in an office zone. City officials changed the law last year to allow it in special circumstances.
Robert P. Weisz, principal of RPW Group, the owner of 1133 Westchester Ave., welcomed the city’s move in a county where office parks dominate much of the landscape.
“White Plains, in a way, is showing the path to other cities,” he said at an open house Monday at the center.
You don’t have to work at 1133 Westchester Ave. to use the day care center, but it helps. Employees of tenants at the building get a 5 percent discount on rates, Ross said. Rates range from $1,200 to $1,395 a month for 5-day-a-week day care; infants as young as 6 weeks, to preschoolers up to 5 years, are accepted.
The center employs a staff of 22. Key tenants at 1133 Westchester Ave. include Starwood Hotels & Resorts Worldwide Inc. and ITT Corp.

Posted by Jerry Gleeson on Tuesday, June 24th, 2008 at 3:55 pm |
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Seavest taps Winer as executive VP

June
17

Seavest Inc., a White Plains investment management firm specializing in developing, buying and managing health care real estate, hired Jonathan L. “John” Winer, a former principal with Ernst & Young LLP, as executive vice president.

Winer started on Monday. His responsibilities will include arranging transactions, finding capital, and assisting with operational initiatives. While at Ernst & Young, he directed the Real Estate Capital Markets Advisory Group and the firm’s Healthcare Real Estate Advisory Practice.

Winer also speaks frequently at healthcare industry events. He has appeared at seminars sponsored by the Building Owners and Managers Association, Legg Mason and Columbia University.

Seavest controls a portfolio of more than 1.5 million square feet of medical office space around the country, with another 500,000 square feet under development.

Posted by Jerry Gleeson on Tuesday, June 17th, 2008 at 3:25 pm |
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Taconic Corporate Park has leasing agent

June
3

Taconic Corporate Real Estate Co., owner of Taconic Corporate Park at 2651 Strang Blvd. in Yorktown Heights, has named Cushman & Wakefield as exclusive leasing agent.
The 145,000-square-foot mixed-use building is just over two-thirds vacant. It was built in 1988 on 24 acres near the Taconic State Parkway and Routes 202/35, and features a loading dock and parking. Zoning permits office use, disaster recovery, laboratory and educational, and other uses.

Posted by Jerry Gleeson on Tuesday, June 3rd, 2008 at 4:30 pm |
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$8M REHAB FOR FORDHAM SITE IN WEST HARRISON

May
19

The new home of Fordham University’s adult education program, 400 Westchester Ave. in West Harrison, is undergoing an $8 million renovation, the building’s owners said.
GHP Office Realty and Benerofe Properties expect to complete work on the 63,000-square-foot building by the time classes begin in September, said Andrew Greenspan, a GHP partner.
The property originally was built in the 1960s and was one of the original Platinum Mile office complexes, Greenspan said. A new roof and mechanical systems, and energy-efficient lighting and windows are being installed, he said.
Plans also call for 26 newly designed classrooms whose technological features include computerized blackboards and teleconferencing systems. The building will have a library resource center, faculty and office support space, indoor and outdoor meeting areas for student sessions, and a dining room.
The architect is Kouzmanoff Bainton of New York. The general contractor is CW Brown of Thornwood.
GHP and Benerofe bought the property from Verizon last year. Fordham has signed a 20-year lease for the entire building.
It will use 400 Westchester Ave. for its Graduate School of Business, Graduate School of Social Services, Graduate School of Education, and its master’s degree program in the School of Education. Some classes in those programs currently are being held at the former Marymount College site in Tarrytown, which Fordham took over in 2002.
Fordham was represented in its lease negotiation by Robert Ocko of Harrington, Ocko and Monk LLP of White Plains. GHP represented the owners. GHP Office Realty is the office building division of Houlihan-Parnes/iCap Realty Advisors LLC.

Posted by Jerry Gleeson on Monday, May 19th, 2008 at 3:33 pm |
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Baker Companies sells Elmsford, Port Chester office parks

March
19

The Fairview Corporate Park in Elmsford and the Midland Business Park in Port Chester are part of a portfolio of properties that a division of The Baker Companies in Pleasantville has sold for $209 million, CB Richard Ellis said.

Baker Properties sold the portfolio of 25 buildings totaling 2 million square feet to Lighthouse Real Estate Ventures Inc. in West Hempstead, Long Island. In addition to the Westchester office buildings, the portfolio included property in New Jersey and Fairfield and New Haven counties in Connecticut.

The portfolio was 93 percent leased at the time of the sale. The Fairview Corporate Park includes six buildings on Fieldcrest Drive, Fairview Park Drive and Ridgewood Drive. The four Midland properties are on Midland Avenue and Slater Street.

Posted by Jerry Gleeson on Wednesday, March 19th, 2008 at 4:40 pm |
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REDC to shift offices in Pearl River

March
10

Rockland Economic Development Corp., which has offices at 1 Blue Hill Plaza, is moving — but not very far.

Effective Monday, the agency’s new address will be 2 Blue Hill Plaza, 3rd Floor, P.O. Box 1575, Pearl River, NY 10965. The telephone number remains the same: 845-735-7040.

On the web, go to www.redc.org.

Posted by David Schepp on Monday, March 10th, 2008 at 4:40 pm |
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Verizon leases back space

March
3

Verizon Communications Inc. has leased back space at two Westchester County office buildings that it sold last summer as part of a portfolio to GHP Office Realty in Harrison and GHP’s local partner, Benerofe Properties.

GHP said Verizon New York and Verizon Global Markets have leased 100,000 square feet at 10 County Center in Greenburgh, where 500 employees are involved in customer support, call center activities and staff training related to its new FiOS services.

Westchester County also leased 17,000 square feet at the building to move staff from its Social Services Department from a previous location on Grand Street in White Plains, GHP said. The real estate company said it is looking to fill 91,000 square feet of remaining space.

Verizon said it also is leasing back about 70,000 square feet of space at 500 Westchester Ave. in Harrison from GHP.

Posted by Jerry Gleeson on Monday, March 3rd, 2008 at 5:12 pm |
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Israeli defense contractor leases space in Valhalla

February
8

Plasan USA, a division of Plasan Sasa, has leased 3,600 square feet at 465 Columbus Ave. in Valhalla as headquarters for its U.S. operations, according to T Square Properties Inc. of White Plains.

Plasan Sasa is an Israeli defense contractor specializing in armor products

Posted by Jerry Gleeson on Friday, February 8th, 2008 at 4:59 pm |
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Specialty law firm to open White Plains office

February
8

The law firm of Lustig & Brown LLP, which specializes in insurance issues, has signed a 10-year, 10,000-square-foot lease at 150 Grand St. in White Plains, according to Reckson, a subsidiary of SL Green Realty Corp.

The firm currently has offices in Manhattan, Buffalo, Stamford, Conn., and Newark, N.J.

Posted by Jerry Gleeson on Friday, February 8th, 2008 at 4:58 pm |
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Commercial rents growing slower than Fairfield

January
16

Westchester County rents for commercial real estate are not growing as quickly as those in Fairfield County, Conn., and New York City, CB Richard Ellis said in its report on the 2007 market released yesterday. But the White Plains central business district saw a $5 per square foot increase over 2006, to an average of $32.58. And demand is growing for Class B office space, as affordability issues drive tenants away from Class A property. Just 7.8 percent of Class B space is available in the county, a level not seen since 2000, the brokerage said. Transactions of less than 10,000 square feet accounted for nearly 90 percent of the county’s overall leasing activity. Countywide average rent in the fourth quarter was $29.04 a square foot, up 6.76 percent from the comparable period a year earlier. The report said 15.52 percent of space was available last quarter, up from 14.68 percent a year earlier.

Posted by Jerry Gleeson on Wednesday, January 16th, 2008 at 6:06 pm |
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Rockland mover moves to Valley Cottage

January
4

Santi Express Inc., a Rockland-based moving company, has moved to larger offices at 616 Corporate Way in Valley Cottage.

At 6,500 square feet, the new space is about twice as large as the company’s former Suffern offices, the company said.

Santi Express, founded 32 years ago by President Sheryl Santi-Luks, employs about a dozen workers and serves the eastern half of the United States.

Posted by David Schepp on Friday, January 4th, 2008 at 6:25 pm |
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Rye Ridge Shopping Center gets makeover

November
6

A several-million-dollar makeover that’s been in the planning for four years is almost complete at the Rye Ridge Shopping Center. The popular Rye Brook plaza-style shopping center has new storefronts and awnings, lighting, landscaping and improvements to the parking area.

Erin Hinchey, leasing agent for Ridge Realty LLC, the owner of the shopping center, said the renovation is also attracting new tenants, including:

• The Look, a retailer of couture and special-occasion dresses and gowns;
• Landsberg Jewelers, a New York City-base retail fine jeweler;
• Salon PF, an upscale salon;
• Shelly Belly / My Lilly Pad, which sells maternity, layette and children’s clothes, accessories and gifts;
• JW Tumbles, a children’s gym franchise;
• Little Scoops, a 1950s theme ice cream parlor for children’s birthday parties;
• The Bar Method Pilates and Yoga, a method of combining the two exercises with a focus on the ballet bar.

Other new tenants include a sports memorabilia and ice cream store called Last Licks and an upscale women’s clothing boutique called Contact.

Hinchey said the center was built in 1960 and last updated 15 years ago. The goal of the redo is upgrading the center to make it appealing to upscale retailers. The new hair salon, for instance, offers cuts for $75 and the dress shop sells evening gowns. “We just kicked it up a notch,� Hinchey said.

The Rye Ridge Shopping Center, which has 220,000 square feet, is home to such retailers as D’Agostino’s supermarket, Starbucks, Cerbones Bakery and the Rye Ridge Deli. There are 36 tenants in the main plaza area and another nine in an annex, which has a Blockbuster and a CVS.

One casualty will be the movie theater, Rye Ridge Cinema, which will close at the end of the year, Hinchey said. The owners would love to replace the Clearview theater with an “art house� style movie theater, but it’s hard to find such a tenant, Hinchey said. Several retailers have already expressed an interest in the cinema’s slot.

Posted by Julie Moran Alterio on Tuesday, November 6th, 2007 at 3:38 pm |
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Maxx Properties moves headquarters

November
6

Maxx Properties, an apartment owner and manager, has sold its office building in Mamaroneck and moved to new offices in Harrison. Maxx Properties sold its 32,000-square-foot office building at 875 Mamaroneck Ave. to KOSL Building Corp. The company has leased the fifth floor at 600 Mamaroneck Ave. in Harrison. It occupies 24,000 square feet at the Saxon Woods Corporate Park. Eric S. Goldschmidt, a partner at Scarsdale-based Goldschmidt & Associates, who helped Maxx sell their building and find new space, said the company consolidated from two floors into a single floor to more efficiently operate its corporate headquarters. Maxx Properties specializes in garden apartment complexes.

Posted by Julie Moran Alterio on Tuesday, November 6th, 2007 at 1:58 pm |
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Donohue joins CB Richard Ellis

October
22

Commercial office brokerage CB Richard Ellis Inc. said Tim Donohue of White Plains, formerly an associate at Jones Lang LaSalle, has joined the company as a senior associate. Donohue will be based in the Stamford, Conn. office and work with clients in Westchester and Fairfield counties. He is a board member of The Rotary Club of White Plains and a member of the Business Council of Westchester.

Posted by Jerry Gleeson on Monday, October 22nd, 2007 at 2:37 pm |
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Mount Kisco Medical Center bought by RREEF

September
12

RREEF, a global investment company based in San Francisco, announced yesterday that it has acquired Mount Kisco Medical Center. The 38,800 square-foot building is adjacent to Northern Westchester Hospital. It was previously owned by Tolchin Property Group. The price was not disclosed.

Michael Berne of Cushman & Wakefield, the broker for the seller, said there were more than 15 bids for the property, which closed after it had been on the market for about 90 days.

“It’s a trophy property in the sense that it’s right across the street from Northern Westchester Hospital,� said Berne, who heads the Senior Housing Healthcare Group at Cushman & Wakefield. “All the tenants are triple-A, and the building was completely redone in 2001 and 2002.�
He said the building is fully occupied.

RREEF Real Estate is part of RREEF, which is part of Deutsche Bank’s Asset Management Division. RREEF also invests in infrastructure, private equity and hedge funds.

Posted by Alison Bert on Wednesday, September 12th, 2007 at 3:40 pm |
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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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