Purchase, NY CBRE closed the sale of 100 Manhattanville Rd., a 68% leased class A office property. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, David Gavin, Gene Pride and Stuart MacKenzie of CBRE’s Institutional Properties Group represented the seller in the sale. The team also procured the buyer, RPW Group, an owner of office properties in Westchester County.
Anchored by MasterCard, 100 Manhattanville Rd. totals 290,634 s/f. The property is close to downtown White Plains’ live/work/play environment and at the junction of Westchester’s major thoroughfares, including I-287, I-684 and the Hutchinson River Parkway. 100 Manhattanville offers amenities including a cafeteria and fitness center.
“The strength of the Westchester County office market continues to raise eyebrows, “said Dunne, a vice chairman at CBRE. “With lower availabilities and increasing rental rates, we have not seen the market this healthy in over a decade. This has been largely driven by the adaptive repurposing of older office product for alternative uses, including residential, medical and retail use, as well as increased office demand stemming from Westchester County’s expanding biotech and healthcare community. Ultimately, the tightening market bodes well for RPW Group to lease up the remaining vacancy at 100 Manhattanville.”
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