Google
   
 

Deal puts a Schein on RexCorp’s Platinum Mile portfolio


Occupancy at the RexCorp Realty L.L.C. portfolio of Platinum Mile buildings is approaching 80 percent thanks to a signed long-term lease announced this week with healthcare products distributor Henry Schein & Co.


Henry Schein will move its regional offices this month from 846 Pelham Pkwy. in Pelham to 20,427 square feet at RexCorp-owned 2500 Westchester Ave., a 158,302-square-foot building in Purchase.


“They will move in in a matter of days, within the first week of March,” said Joseph Caruso, senior vice president of leasing with RexCorp. “They looked at it and said we’ve got a great location, a good landlord, an efficient building and a very nice amenity package.”


RexCorp is halfway through its $30 million repositioning of the Platinum Mile portfolio. Most recently it has been refurbishing lobbies of five buildings simultaneously – 709 Westchester Ave., 925 Westchester Ave., 1025 Westchester Ave., 2500 Westchester Ave. and 2700 Westchester Ave.


“We’ll be finished in the next month or two,” Caruso said.


Schein’s new lease continues the increase in occupancy Platinum Mile has seen since RexCorp and predecessor Reckson Associates Realty Corp. bought the former EastRidge Properties portfolio at the end of 2005. Occupancy had been as low as 68 percent following the departure of several big tenants earlier this decade, including Nokia, Snapple Beverage Group (now part of Cadbury Schweppes Americas Beverages) and Diageo Ltd.


Headquartered in Melville, publicly-traded Henry Schein on Feb. 21 reported net income for 2006 of $163.8 million, up 17 percent from 2005, on net sales of $5.15 billion, up 11 percent from the previous year.

 

 

 

 

 

Mack-Cali announces four Westchester leases

 

While much attention in Westchester’s office market has centered on SL Green Realty Corp. and RexCorp Realty L.L.C., Mack-Cali Realty Corp. has been busy as well when it comes to getting some leases done. This afternoon Mack-Cali announced four completed Westchester deals:

• Singer Holding Corp., parent company of home heating oil supplier Robison Oil, renewed its lease of 15,000 square feet at 500 Executive Boulevard in Elmsford.  500 Executive Boulevard is a 41,600 square-foot office/flex building, located at Cross Westchester Executive Park, that is 100 percent leased.  Ivan Abry, in-house senior director of leasing, represented Mack-Cali.

• Matrix Absence Management, Inc., a provider of customized management of employers’ disability, workers’ compensation and family leave programs, leased 16,302 square feet at 7 Skyline Drive in Hawthorne.  The lease included a renewal of 14,126 square feet and a 2,176 square-foot expansion.  Located in Mid-Westchester Executive Park, 7 Skyline Drive is a 109,000 square-foot class A office property that is 95.3 percent leased.  Carol McGuire, in-house senior director of leasing, represented Mack-Cali.

• Konica Minolta Business Solutions USA, Inc., a document imaging products provider, signed a new lease for 11,650 square feet at 200 White Plains Road in Tarrytown.  The six-story, 89,000 square-foot class A office building is located in Talleyrand Office Park and is 97.9 percent leased. McGuire represented Mack-Cali in this deal as wekk.

• Starwood Hotels & Resorts renewed its lease for 10,275 square feet at 5 Skyline Drive in Hawthorne.  The 124,022 square-foot office/flex building, located in Mid-Westchester Executive Park, is 100 percent leased.  Paul Enea of NAI Friedland Realty represented the tenant and Abry, Mack-Cali.

 

 


Reader Comments

 

 

Please send us your comments!


 

 

 


Add Your Comments

 


TalkBack & let us know what YOU think.

If you have something to add to this discussion topic, we'd like to know.

To send a comment:

1. Enter your full name
2. Enter your email address
3. Post your comment and click 'Submit'

Full Name:

Email Address:

Example: johndoe@aol.com


Comments:

(WestfairInc reserves the right to edit any text for broadcast)

 

 

 

 

 

 

 

 

 

Welcome to Deals & Deeds
 
What's the lastest in the real estate world, and beyond? Business Journal editor-in-chief Alex Philippidis has the latest in our new local news blog, "Deals & Deeds." Get the scoop Mondays, with updates throughout the week.
 


News & Notes on the Local Real Estate Scene

 
ABOUT THE AUTHOR
 

 

 

 

 

   
Westfair Business Publications


© Copyright 2007 Westfair Communications Inc.


3 Gannett Drive, White Plains, NY 10604
Tel: (914) 694-3600 + Fax: (914) 694-3699
 
NYPA