News: Brokerage

Heritage Realty Service adds bike storage program at Gannett Office Park

According to Heritage Realty Services' president and CEO George Constantin, the firm installed glass-enclosed bicycle parking spaces and introduced amenities for tenants who cycle to work at Gannett Office Park at the Westchester Bike Summit. Heritage is one of the first commercial real estate owners and managers to incorporate bicycle storage programs at a Westchester office property. Conceptualized and designed by Heritage, the glass-enclosed bicycle parking spaces will be centrally located within Gannett Office Park and will be available for tenants' use free of charge. Strata Fitness Center, a tenant at Gannett Office Park, will provide free use of its showers and lockers for bicycle commuting tenants. To kick-off its bicycle storage program, Heritage will give away two top-brand bicycles to tenants. The bicycle storage program is part of Heritage's efforts to incorporate environmentally responsible programs at all of its properties, and Heritage intends to offer similar programs at each of its properties throughout its portfolio. Constantin was one of the many panelists at the Westchester Bike Summit, which brought together Westchester County officials, executives of the East Coast Greenway, and cycling enthusiasts to discuss encouraging and improving bicycle commuting within Westchester County. Westchester County executive Andrew Spano, U.S. representative Nita Lowey, Mid-Atlantic coordinator of East Coast Greenway Alliance Michael Oliva, Westchester Cycle Club president David Wilson, and supporters of bicycle commuting discussed plans underway or on the drawing boards for bike trails and public bicycle storage in Westchester. "We have been working for some time with George and Heritage Realty Services to build a cycling trail along the I-287 Platinum Mile corridor, in an effort to facilitate cycling to work as a mode of transportation for Westchester residents," said Oliva. "George is a pioneer among Westchester landlords by offering such a groundbreaking program to his tenants." Heritage is also a supporter of East Coast Greenway, a 3,000-mile trail system for non-motorized transportation linking Maine to Fla. East Coast Greenway is working closely with Westchester County officials to build bicycle trails along I-287 and major roads in Westchester to encourage bicycle commuting. About Heritage Realty Services, LLC: Heritage Realty Services, LLC or "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, President and Chief Executive Officer George T. 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, DC. 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
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
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
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account