Newman and Caracappa of Malkin Properties renews 4,700 s/f lease

December 21, 2009 - Front Section

Jeffrey Newman, Malkin Properties

Kathleen Caracappa, Malkin Properties

Lawyers Title Insurance Corp. has renewed its lease on the 11th floor at Ten Bank St. for the third time since taking occupancy in 1996, according to Jeffrey Newman, executive VP of Malkin Properties, the marketing and managing agent for the building.
Founded in 1925, Lawyers Title is a member of the Fidelity National Financial, Inc. family of title companies. The firm will remain in its 4,700 s/f space through 2015.
"Malkin Properties takes pride in the quality of our trophy buildings, and a renewal by a tenant that is a leader in its field points to our success in maintaining that level of quality," said Newman. "We are delighted that Lawyers Title has chosen to continue its stay in Ten Bank St."
Newman and assistant VP Kathleen Caracappa represented the landlord. Howard Greenberg of Howard Properties, Ltd. and Bo Hoban of Orion Realty Group represented the tenant.
The most recent addition to Malkin Properties' Westchester portfolio, Ten Bank Street, in downtown White Plains, is a 225,000 s/f, 12-story office building immediately adjacent to the White Plains Transportation Center, which includes the Metro North commuter line that runs directly to Grand Central Terminal in Manhattan and serves as the hub of the extensive Westchester County Bee Line bus system.
Ten Bank St. garnered the 2005 "Office Building of the Year Award" from the Westchester County Chapter of the Building Owners and Managers Association, the third time Ten Bank St. has received this distinction.
Malkin's ongoing program of enhancements to the building, which was built in 1989, includes: the extensive updating of common corridors and installation of new solid-surface flooring in the elevator cabs; and an upgraded "Ten Bank St. Café," which is located off the main lobby, providing tenants and their visitors with an expanded dining service and eating area as well as full catering services.
Building features include:
* A 24-hour-a-day secured, structured parking garage with 417 spaces, located within the building;
* 24-hour security and card access to the building;
* Fiber optic high-speed Internet access;
* An ATM; and
* Close proximity to banks, restaurants, hotels, dry cleaning, business suppliers, and retail, including The Galleria and The Westchester shopping malls.
In addition to Ten Bank St., Malkin Properties has another Westchester County office building: 500 Mamaroneck Ave., the five-story, 285,000 s/f multi-tenant office building located in the surging I-287 East submarket in Harrison.
Malkin properties in neighboring Fairfield County, Conn. are: First Stamford Place, a three-building, 810,000 s/f office complex located along I-95, adjacent to the Stamford Transportation Center; Metro Center, a 280,000 s/f property at the Stamford Transportation Center; and MerrittView, a 255,000 s/f office building located at the Merritt Pwy.'s exit 40A.
The company's portfolio of suburban office buildings totals 1.85 million s/f of prime space in Westchester County, N.Y. and in Fairfield County, C.T.
Malkin Properties provides full turn-key deal-making and management services, including marketing, lease negotiations, design, construction, management and cleaning services, all performed in-house. Broker commissions are paid in full as soon as leases are signed.
The firm is committed to sustainable property operations and development, including energy efficiency, water use reduction, waste recycling and indoor environmental quality initiatives.
Malkin Properties is the real estate management, marketing and acquisition arm of the Malkin family, which has commercial and residential operations in seven states.

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