CBRE arranges nine leases totaling 78,590 s/f in Westchester

White Plains, NY CBRE arranged nine leases totaling 78,590 s/f.1

CBRE arranged five new leases and renewals totaling 72,257 s/f on behalf of Senlac Ridge Partners’ seven-building, 970,476 s/f portfolio of Westchester office properties. The CBRE team of Michael McCall, Sheera Riemer and Brian Carcaterra exclusively marketed the properties, which include 701, 707, 709, 711 and 777 Westchester Ave. and 2500 and 2700 Westchester Ave. in Purchase.

At 707 Westchester Ave., health care service provider Unlimited Care signed a new lease for 9,811 s/f; Source Power, a solar energy provider, leased a new deal for 4,958 s/f; and the law firm of Rosenbaum & Taylor P.C. signed a new commitment for 3,690 s/f. Trivium Point Advisory, a leading tax management and business consulting firm, also signed a new lease for 3,638 s/f at 711 Westchester Ave. at the Exchange at Westchester.

In Purchase, Cognition Therapeutics, a clinical stage neuroscience drug developer, joined the tenant roster at 2500 Westchester Ave., signing a new commitment for 2,864 s/f.

“Leasing has been extremely active throughout Senlac’s Westchester portfolio this year, with more than 20 new leases and renewals signed through the end of the third quarter,” said McCall. “County-wide leasing activity is up more than nine percent over the same period last year, and Westchester’s CBD centered in White Plains saw a jump of more than 14 percent in leasing from the second to third quarters.”

“The Exchange was the beneficiary of the healthy demand for high quality-built office space located within  mix-use developments that incorporate retail and residential in an attractive manner,” said Riemer.

The Exchange Portfolio originally consisted of 14 buildings comprising nearly 1.6 million s/f of commercial space. Over time, the less desirable office space was re-zoned to facilitate mixed-use redevelopment which now includes the Wegmans Supermarket and The Carraway, a Toll Brothers development.

CBRE arranged four leases totaling 56,583 s/f at Gateway Building, a class A office tower located at 1 North Lexington Ave. The 19-story, 541,000 s/f office property has completed $20 million in building improvements.

CBRE’s William Cuddy and Jacqueline Novotny serve as the exclusive leasing agents at the property and represented ownership, Gateway I Group, Inc., in the following:

• Bleakley Platt & Schmidt’s commited to 26,679 s/f, relocating from the seventh to the fourth floor. The 85-year-old law firm has been a tenant at Gateway since its opening in 1984.
• Premier Home Care Services, a provider of in-home, long-term and certified home healthcare services, signed a new lease for 15,284 s/f.
• Investment advisor Horizon Kinetics, formerly a sub-tenant at the property, signed a direct lease for 4,851 s/f.
• M2O Private Fund Advisors, a boutique investment banking firm, renewed its lease and expanded by 3,470 s/f to 9,679 s/f. CBRE’s Mike McCall represented the tenant in the negotiations.

“Gateway attracts a diverse tenant roster including leading companies in the financial services, legal and healthcare sectors,” said Cuddy. “The property, conveniently positioned in the heart of the White Plains’ central business district, is near the city’s public transportation center, federal, state and county courthouses, as well as prime retail and restaurants.”