Weekend Notes
By ALEX PHILIPPIDIS :: February 4, 2007

Rechler talks RexCorp; some familiar faces stay on
Green renames some ex-Reckson assets in county

Monday’s Business Journal features yet another Reckson story – this one with some interesting details about RexCorp and about how the old Reckson team in Westchester has split up.

Scott Rechler, chairman and CEO of Reckson successor RexCorp Realty L.L.C., notes his new company will do business through three funds:

Value Enhanced Core Strategy Fund – the entity through which RexCorp holds its Westchester properties like its Platinum Mile portfolio;

Prime Property Fund -- will acquire trophy properties;

Opportunity Fund -- will oversee those potentially risky mixed-use developments.

Rechler also discusses which familiar Reckson professionals have joined RexCorp, and which ones now work at SL Green. Interestingly Reckson’s best-known exec over the past decade, Salvatore Campofranco, isn’t part of either. And since I filed the Business Journal report, I learned about another former Reckson broker: Sue Rich joined John Barnes in moving to Green. She’s listed as the broker contact for every one of Green’s Westchester buildings.

Which brings me to another RexCorp/Green note:

Green renames some ex-Reckson assets in county

No sooner did SL Green move into Westchester than it moved quickly to rename all those properties that had “Reckson” in their name. (Makes sense, doesn’t it?)

But where Reckson injected its own name into many of its properties, Green has opted instead for using the addresses of its properties. Following is a list of renamed Westchester properties, along with what they were called under Reckson ownership:

360 Hamilton Ave. – The 384,000-square-foot downtown White Plains building housed Reckson’s Westchester offices when it was known as Reckson Metro Center.

100, 200 and 500 Summit Lake Drive – The buildings that comprise what was previously called the Reckson Summit campus in Valhalla and before that The Summit at Westchester, the name used by the site’s original developer Cappelli Enterprises Inc.

100, 120 and 520 White Plains Road – Three buildings on Route 119 that Reckson considered part of its overall Reckson Tarrytown portfolio. 100 is a 6,000-square-foot site, while 120 has long been called Christiania, named for the Norwegian insurance company that completed the 204,000-square-foot building in 1984. 520 has 180,000 rentable square feet.

1-6 International Drive – The six-building, 540,000-square-foot Rye Brook campus was previously known as Reckson Executive Park, and was completed in the late 1980s as Royal Executive Park.

GHP hires leasing agent for Jersey building

GHP Realty Partners L.L.C. of Harrison (White Plains address) announced today it has retained a leasing agent for its 30 Two Bridges Road (“The Atrium”), a 92,750-square-foot building in Fairfield, N.J. The leasing agent is NAI James E. Hanson, a brokerage based in Hackensack, N.J. The leasing assignment will be overseen by four NAI Hanson professionals: Senior Vice President W. Joshua Levering, SIOR and three sales associates, Craig A. Levitan, Gregory D. Reid and Robert J. Borny.

30 Two Bridges Road is currently 85 percent leased and has available suites from 2,000 to 7,000 square feet, Levering said in a press release announcing the assignment.

Founded in 1999, GHP owns and manages more than 5 million square feet in 95 buildings.

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