One White Plains corporate office complex on Westchester Avenue has signed up four new prestigious tenants filling 30,000-square-feet of space. Two firms are relocating to Westchester and two others are moving from other suburban locales.
Charles S. Cohen, the owner/developer of 333 Westchester Ave., announced these new longterm lease agreements this week. The 500,000-square-foot complex is now 85 percent occupied.
“With a building that now hosts a range of industries, from medical to insurance creative uses and accounting, and on-site amenities,” Cohen said in an email, “it is clear why 333 Westchester Ave., is becoming increasingly popular among both local and NYC based businesses.”
This major four-prong transaction comes at a point in the year when there has been “moderate” leasing activity in Westchester County’s commercial spaces, according to Jones Lang LaSalle, the Stamford-based investment management and research firm.
“While leasing activity remained moderate, the county saw a notable absence of big transactions, posting just one deal larger than 20,000 square feet this quarter,” read a July 12 news release. The I-287 East Corridor recorded the largest number of deals this quarter, the firm said.
The new tenants at 333 Westchester Ave., are:
• Reis Inc., a national provider of commercial real estate information and analysis, with 10,000 square feet on the first floor of the East Building. The company is headquartered in Manhattan but is expanding into Westchester County.
• USI, Inc., a national insurance brokerage and consulting firm, has leased 10,000 square feet on the first floor of the South Building. The company has more than 100 branch offices across the country and is relocating its Westchester division from its Briarcliff Manor office at 555 Pleasantville Road to White Plains this summer.
• Prager Metis CPAs, LLC, a mid-sized accounting firm, has leased 5,000 square feet on the first floor of the East Building. The firm headquartered in New York City, is relocating from its current Armonk offices at 80 Business Park Drive.
• USA Vision Systems, Inc., a US subsidiary of Taiwan-based GeoVision Inc., has leased 3,200 square feet on the 2nd floor of the South Building. The company, a manufacturer of video surveillance systems, is establishing its first Westchester County.
Marc Horowitz of Cohen Brothers Realty Corp., with Matt Lisk and Steve Baker of Cushman & Wakefield, represented the landlord in all four long-term leasing transactions. Reis Inc. was represented by Robert Baraf and Greg Frisoli of Cushman & Wakefield.; USI Inc. was represented by Jack Keeser and Greg Frisoli of Cushman & Wakefield.; Prager Metis CPAs, LLC was represented by Matt Lisk and Clint Dewey of Cushman & Wakefield; and USA Vision Systems Inc., was represented by Paul Wong of Younique Group. Asking rents were approximately $25 per square foot, the company reports.
The complex is on 39 areas and has on-site amenities including a 15,000-square-foot fitness center, over 2,000 parking spaces, a catering center, a conference center and a free shuttle service to and from the train station.
Charles S. Cohen heads a multi-faceted real estate development company that owns and manages over 11 million square feet of commercial space in Manhattan, Los Angeles and Houston. Among his signature New York commercial properties are 623 Fifth Ave., 750 Lexington Ave., 6 and the D&D Building at 979 Third Ave.