Dunne, Bardsley, MacKenzie and Cuddy of CBRE sell 182,930 s/f two-building office property for $12 million

 

 

 

 

Mount Pleasant, NY According to CBRE, they have handled the $12 million sale of 115-117 Stevens Ave., a two-building office property. The team of Jeffrey Dunne, Steven Bardsley and Stuart MacKenzie of CBRE’s Institutional Properties Group, in collaboration with William Cuddy Jr. of CBRE’s Advisory & Transaction Services Group, represented SL Green in the sale. The team also procured the buyer, GHP Office Realty.

Situated in central Westchester County, 115-117 Stevens Ave. consists of two class A office buildings totaling 182,930 s/f. 

GHP intends to invest $3.5 million in the building at 117 Stevens Ave. to create new lobbies and accommodate small-user tenants. 

“The tightening Westchester County office market, driven by the adaptive repurposing of older office product, and the increased demand stemming from Westchester’s cluster of biotech and healthcare businesses bodes well for GHP to lease space at 115-117 Stevens Avenue,” said Dunne, a vice chairman at CBRE.

The property is near Downtown White Plains and offers access to Westchester’s major thoroughfares, including Interstates 287 and 684. 115-117 Stevens Ave. benefits from recent capital improvements, including improved amenity spaces, making the asset very attractive to businesses and investors in a continually improving Westchester County office market.