Goldschmidt & Associates co-brokers Saks Off 5th lease for former Loehmann's space in White Plains

According to Eric Goldschmidt, senior partner at Scarsdale-based Goldschmidt & Associates, the firm represented the landlord in their new 25,000 s/f lease with Saks Off 5th in the former Loehmann's space in the White Plains Shopping Center, Rte. 119. As soon as the ownership attained control of the space from Loehmann's, negotiations began with Brian Katz of Katz & Associates, the broker for Saks. The property owners decided to move forward with Saks due to its appeal to the general market, similar to that of Loehmann's. Before the entire Loehmann's chain closed, they occupied the same space in the center for 43 years. Saks Off 5th expects to open in early 2015. Robert Orlofsky, the center's manager who was actively involved in the negotiations, stated that all of the center's tenants and their customers are very excited and anxiously awaiting the opening. The property will be upgraded with a new building exterior and parking lot.