Summit Dev. leases 35,000 s/f to Fiber Media

The owner of Chappaqua Crossing has signed a 10-year lease with a leading international data center company for 35,000 s/f at its former Reader's Digest property. Fiber Media, based in Hollywood, Fla., will occupy space that formerly housed the publisher's data operations to construct its newest center, Fiber Media Westchester LLC, that will provide safe storage for data generated by the regional business community. Fiber Media will become the second corporate tenant to occupy the 518,000 s/f that the owner is planning for office space on the 116-acre Reader's Digest property. Since the property was acquired in late 2004, Reader's Digest has remained as a tenant, occupying 290,000 s/f. Felix Charney, president of Summit Development LLC, the property's owner/developer, said, "We are very pleased that Fiber Media has selected Chappaqua Crossing for its Westchester-based data center. Its operation will fit perfectly with our overall plans for this site because its small employee staff will have minimal traffic impact in the area." The plans for the Reader's Digest property, which are being reviewed by the town's planning board, call for the creation of an active adult (55+) residential development including an affordable housing component for the local workforce. Greg Frisoli and Jim Fagan of Cushman & Wakefield of Connecticut, Inc. represented Summit/Greenfield and Audrey Novoa of Murray Hill Properties in New York City represented Fiber Media Westchester LLC.