Cuddy and Donohue of CBRE rep owner of Riverview at Purchase, Phoenix Capital, in the lease of 67,000 s/f

Since being appointed the exclusive leasing agent for RiverView at Purchase in 2009, CBRE's Stamford office has completed a near full lease-out of the class A campus, increasing its occupancy rate from 50 to 94%. The 121,500 s/f office campus, owned by Phoenix Capital Partners, LLC and located at 287 Bowman Ave., has experienced leasing activity totaling 67,000 s/f over the past few years. CBRE's William Cuddy, Jr. and Timothy Donohue represented Phoenix Capital Partners in these transactions In 2009, ownership appointed a new property management team led by Thomas Heaslip, Jr. and began a capital improvement campaign to reposition the building, which included redesigning the lobby and café, updating signage, refurbishing all common areas and bathrooms, renovating the parking garage and adding contemporary artwork throughout the building. "RiverView at Purchase has experienced steady leasing velocity despite the economic slowdown," said Cuddy. "In order to reposition this building from 50 percent available to nearly 100 percent leased with strong credit tenants, a formula for success was necessary: committed and visionary ownership, proactive management and responsive brokerage." Recent transactions at RiverView at Purchase include software solutions developer Allen Systems Group (ASG), which grabbed 32,000 s/f; Stop and Shop's New York Metro Division's 13,601 s/f office lease; luxury corporate travel company Altour's 4,676 s/f; investment manager Platinum Grove Asset Management's pick up of 4,441 s/f; insurance provider Principal Life Insurance Company's commitment to 4,034 s/f; Payment Alliance International's 2,498 s/f space; transportation company County Coach Corporation's 2,202 s/f; personnel staffing agency Stonewater Associates' 1,960 s/f; and KSL Capital Partners' lease for 1,600 s/f. "A diverse tenant mix in terms of size, industry and expiration dates ensure that Riverview at Purchase will remain one of the more stable assets in the region, regardless of market conditions," said Heaslip, asset manager for Riverview at Purchase. "We have one or two more tenants to secure for the remaining slice of the building, a top-floor, heavily windowed 9,000 s/f divisible space. With our dynamic brokerage team in place, we anticipate closure of a deal or two in the very near future." "Now that the property is at near-full occupancy, we will further develop and build upon our successful business model of superior tenant relations coupled with meticulous property maintenance to ensure the all-important tenant retention, no matter what type of market conditions exist." RiverView's high-tech office suites offer tenants an on-site, first class amenities package including a gourmet café and catering services, covered parking and fitness center equipped with its own resident fitness trainer and massage therapist. Located along Westchester's "Platinum Mile Corporate Corridor" directly off Exit 10 on I-287, RiverView at Purchase is easily accessible to both Westchester and Fairfield Counties. It is a swift commute from New York City, New Jersey and Lower Connecticut, as well as five minutes from Westchester County Airport, making it a smart choice for major corporate users. About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.