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.
The Westchester Medical Group said it will consolidate administrative offices at 32,000 square feet of space at 2700 Westchester Ave. in Purchase by the end of September. It will add 40 to 50 more employees at the site over the next 18 months.
Chief Financial Officer Clark Yoder said the group was moving administrative offices out of the third floor of 210 Westchester Ave. in Harrison, to accommodate more clinical practice there.
The new offices also will draw staff from two other offices in central Westchester. The medical group will consolidate billing, human resources, general finance, and a call center at the new site. The group employs 510 people plus 143 doctors, Yoder said. About 150 to 160 people work in administration.
CB Richard Ellis represented the medical group in the lease, which will run at least 10 years. The building, owned by Normandy Realty Partners, would be about one-third vacant once the medical group moves in.
In early 2010, Westchester Medical Group expects to open a $7 million surgical center in Rye.
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.
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.
USA Bank in Port Chester said it had lower losses in the third quarter and warned that near-term profitability would be “a major challenge.”
The commercial bank, founded in 2005, said it had a net loss of $118,000, or 2 cents a share, for the third quarter, compared to a net loss of $843,000, or 15 cents a share, in the comparable quarter a year earlier. Net interest income figures were not announced.
The bank said that total assets at the end of the third quarter grew 15 percent from the end of 2007, to $195.7 million. Deposits were up 24 percent from the end of 2007, to $151.9 million. The loan portfolio was up 40 percent from the end of 2007, to $149.6 million.
The bank said that its board of directors had negotiated a buyout of its administrative office lease at 800 Westchester Ave. in Rye Brook, and nearly all the staff would move to its Port Chester office. The rest will move to an office in nearby Greenwich, Conn.
Second-quarter losses at Emisphere Technologies Inc. were reduced as the companyâ€™s 2007 decision to move management from Eastview to New Jersey and to cut staff helped reduce expenses, it said.
Emisphere reported a net loss of $7.63 million, or 25 cents a share, on revenue of $14,000. For the comparable quarter a year earlier, it had a net loss of $12.1 million, or 43 cents a share, on revenue of $398,000.
A new management team last year shook up the biotech researcher. It moved its senior management from The Landmark at Eastview to new headquarters 50 miles away in Cedar Knolls, N.J., south of Parsippany.
By splitting its campus, it was able to trade laboratory space in Westchester at some $50 a square foot for office space in New Jersey at about $20 a square foot, company spokesman Bob Madison said.
Emisphere also cut staff since last year by about 40 percent, chiefly people in information technology, finance, and human resources, he said. It currently employs 71 people. The cost-cutting has saved the business about $1 million annually, he said.
Mack-Cali Realty Corp. reports that five businesses have signed leases for a total of 117,719 square feet in Westchester County.
They are: AFP Imaging Corp., which renewed its lease for 10 years at its 48,000-square-foot offices at 250 Clearbrook Road in Elmsford; HQ Global Workplaces LLC, which renewed its lease on 22,000 square feet at 50 Main St. in White Plains; Con-Way Freight Inc., which renewed its lease on a 22,100-square-foot warehouse at 6 Warehouse Lane in Elmsford; EquiSearch Services Inc, which signed a new five-year lease for a 13,810-square-foot office at 555 Taxter Road in Elmsford; and JBG Health Facilities, an affiliate of the Jewish Guild for the Blind, which signed a new seven-year lease for 12,000 square feet at 4 Executive Plaza in Yonkers.