Cuddy and Novotny of CBRE arrange 101,000 s/f; JLL reps Sumitomo Mitsui

White Plains, NY CBRE has arranged a 101,000 s/f lease at 1 North Lexington Ave. Sumitomo Mitsui Banking Corp. headquartered in Tokyo, Japan, committed to a 13-year lease at the class A office complex. 

The CBRE team of William Cuddy, Jr. and Jacqueline Novotny represented the building ownership, Gateway One Group, in the lease negotiations as the exclusive leasing agents for the prominent White Plains property. Williams Peters, Derek Trulson, Robert Ageloff and Paul Tortora of Jones Lang LaSalle acted on behalf of Sumitomo Mitsui Banking. 

“The quality institutional ownership and the property’s phenomenal class A office space, as well as its central location - just a block from the White Plains Metro North Train Station and White Plains Transportation Center - made 1 North Lexington Ave. the ideal location for Sumitomo Mitsui,” said Cuddy. 

“Sumitomo Mitsui’s commitment to the property is part of an early trend of the increased interest from New York City tenants coming into downtown White Plains looking for more reasonable rental rates. Tenants value the live, work and play environment and appreciate the advantage of the convenient commute to Manhattan,” said Novotny.

The closing of the Sumitomo Mitsui transaction also marks Cuddy’s two decades as the exclusive leasing agent for Gateway, 1 North Lexington Ave. Over the years, he has worked closely with the ownership to attract such high-profile corporate space users as Alliance Bernstein, GuildNet, Chase Bank, and many others to the buildings roster. The property is now 96% leased.