News: Brokerage

Constantin of Heritage renews three leases totaling 46,500 s/f: O'Gallagher of C&W reps tenant in 23,000 s/f

George Constantin, president and CEO of Heritage Realty Services, LLC, has negotiated three long-term lease renewals, including two renewal-plus-expansion leases, totaling 46,500 s/f at Gannett Office Park. The park, owned by Heritage Realty Services' affiliate Dryland Gannett, LLC, is a three-building office development comprised of 2, 3 & 4 Gannett Dr. Homesite Insurance renewed its 8,000 s/f space and expanded an additional 4,500 s/f at 4 Gannett Dr. The 12,500 s/f space will house the company's New York sales office. At 2 Gannett Dr., Dorian Drake International expanded its office space by leasing adjoining premises and now occupies half of the 23,000 s/f fourth floor. The 2 Gannett building has served as the company's world headquarters for 15 years. Christopher O'Gallagher of Cushman & Wakefield represented the tenant. Further, Arthur J. Gallagher & Co. renewed its 23,000 s/f lease and consolidated its Westchester County Offices at 2 Gannett Dr. for an additional six years. The space will continue to be one of the company's primary New York offices. Kim Mowers of Grubb & Ellis represented the tenant. "We are happy to accommodate the needs of our tenants in renewing and expanding their business ventures," said Constantin. "Gannett Office Park has seen remarkable tenant retention, and we very much look forward to continuing our relationships with Homesite Insurance, Dorian Drake International and Arthur J. Gallagher & Co." Located minutes from I-287, I-684 and the Hutchinson River Pwy., Gannett Office Park is a fully modernized class A office park that features 24-7 building hours and new Carrier/Trane computerized HVAC systems. Notable tenants of the 340,000 s/f office park include Wilson Elser Moskowitz Edelman & Dicker LLP, Brotman Law Group, Coldwell Banker Commercial, Westfair Communications, Whiting-Turner Contracting Co., Adis Skin Care Products, The Institute for Sensory Research, WNBC Westchester Bureau, and the National Multiple Sclerosis Society. Retail tenants include FIW Corp. and Strata Health & Exercise Center. Heritage is a New York-based boutique commercial real estate ownership and development firm specializing in long-term strategic asset management services, including: property management, leasing, development, finance, construction, and disposition services, as well as the acquisition of well-priced and well-located properties. With more than 25 years of commercial real estate experience, including 20 years at Helmsley-Spear, Constantin has grown the privately held Heritage to include more than $400 million in assets, with properties in New York City, Westchester and Connecticut, and affiliated properties in Washington, D.C. Heritage is continually looking to expand its portfolio through property acquisitions.  For more information on Heritage, please visit www.heritagerealtyservices.com.  
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,