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ABR completes lease buyout.

A complicated lease buyout for 72,000 square feet of prime office space was negotiated by the Westchester/ Fairfield office of Abrams Benisch Riker, Inc./Colliers (ABR) at the Christiana Building at 120 White Plains Road in Tarrytown.

ABR served as a consultant to Lazmo, the British conglomerate that acquired and absorbed the former tenant, the American Ultramar Corporation, in December 1991. Negotiations were prolonged and complicated by the bankruptcy of the building owner, which precipitated the Mitsubishi Bank to foreclose on the property.

The successful buyout negotiations made the space available for a new tenant, The Dannon Company, which then was able to sign a lease for 40,000 square feet of space, with an expected move-in later this year.

Sol Krevlin and Gerald T. Rhine of ABR acted as consultants on behalf of Lazmo in this complicated leasing transaction.
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Title Annotation:Abrams Benisch Riker Inc. negotiates lease buyout for Christiana Building at 120 White Plains Road, Tarrytown, New York
Publication:Real Estate Weekly
Date:Sep 1, 1993
Words:141
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