Normandy Real Estate Partners announced significant leasing volume for its Westchester portfolio,“The Exchange.”
The 1.6 million-square-foot portfolio, which consists of 14 buildings, has completed more than 235,000 s/f of leases year-to-date, with CBRE representing Normandy in the transactions.
This marks the largest volume of leasing activity in the first half of the year since Normandy began leasing space at The Exchange in 2009.
The deals in 2015 at The Exchange include:
• Citrin Cooperman has expanded their space to 27,000 s/f, now occupying a full floor at 709 Westchester Avenue.
• Stewart Title signed a long-term extension for 10,000 s/f at 711 Westchester Avenue
• New York Life expanded to 32,000 s/f to occupy a full floor at 777 Westchester Avenue
• Schiavetti Corgan renewed and moved to an 8,000 s/f space at 711 Westchester Avenue.
“We’re determined to provide top-of-the-line amenities and the best possible working environment for our tenants,” said Matthew Lavell, Vice President of Normandy Real Estate Partners.
“Our ongoing capital campaigns in each of our assets have not only attracted many of the region’s best companies, but this year in particular we have seen a record amount of expansions and long term extensions from many of our largest tenants.”
CBRE senior vice president Brian Carcaterra, vice president Michael McCall and associate Morgan Collins represented Normandy in the leases.
“The Exchange continues to be the unequivocal leader in the market in terms of leasing activity,” said Carcaterra.
“It is a first-class portfolio with dedicated ownership that responds to the needs of the tenants and the brokers in the market. We are all very proud of the standard we have set in the market and look forward to continuing the momentum in this record breaking year.”
Normandy has invested over $30 million in the ongoing redevelopment of The Exchange.
For example, at 711 Westchester Avenue, the lobby has received a new floor, lighting, and artwork, and the fitness center has been updated with new equipment and finishes, which has further increased interest in the building.
Other improvements have included exterior building refurbishments and improved parking lots, security and concierge services.
The Exchange encompasses 701-777 Westchester Avenue, 925 and 1025 Westchester Avenue, 2500 and 2700 Westchester Avenue and 103, 105, 106, 108 and 110 Corporate Park Drive, all of which offer immediate access to I-287, I-684 and The Hutchinson River/Merritt Parkways.
Tenants have access to a variety of on-site amenities such as state-of-the-art fitness centers, full service cafeterias, conferencing facilities, sundry shops and service to each park to and from the White Plains
Transportation Center via the Westchester County Bee-Line bus system.
Corporate tenants include J.P. Morgan Chase, Wells Fargo and UBS. Area amenities include over three-hundred hotel rooms located less than one mile from the portfolio in addition to the new Life Time Fitness facility.