White Plains, NY CBRE handled the $14.75 million sale of an office property at 925-1025 Westchester Ave.
CBRE’s Institutional Properties Group
CBRE’s Institutional Properties Group
CBRE’s Institutional Properties Group
The team of Jeffrey Dunne, Steven Bardsley and Stuart MacKenzie of CBRE’s Institutional Properties Group, in collaboration with Brian Carcaterra of CBRE’s Advisory & Transaction Services Group and Ten-X, represented the seller. CBRE also procured the buyer, RPW Group.
Currently 65% leased, 925-1025 Westchester Avenue consists of two class A office buildings totaling 192,711 s/f.
The property is close to Downtown, and is situated at the junction of Westchester’s major thoroughfares, Interstates 287, 684 and the Hutchinson River Pwy.. 925-1025 Westchester Ave. benefits from recent capital improvements, including improved amenity spaces, making the asset very attractive to businesses and investors in a continually tightening Westchester County office market.
“The landscape of the Westchester Ave. and I-287 corridor is shifting, especially as new retailers like Wegmans and Life Time Fitness enter the market and offer new amenities for the community,” said Dunne, of CBRE.
“This shift is creating a tightened office market and should bode well for RPW in attracting new tenants and leasing up the remaining vacancies at 925-1025 Westchester Ave.”
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