Another early renewal at W&M's 10 bank St.Property Resources Corporation has renewed its lease at Ten Bank Street 15 months prior to its expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created , announces Jeffrey H. Newman, executive vice president of W&M Properties, the marketing and managing agent for the building. "This is the fourth early renewal we have seen at Ten Bank in the past year and we are expecting to see several other tenants jump in line early," said Newman. "There is such strong demand in downtown White Plains, particularly in the transportation center submarket sub·mar·ket n. A geographic, economic, or specialized subdivision of a market. adj. Being below what is usual in a particular market: submarket wages; submarket interest rates. , where rents have increased by twenty-five percent during the past year. Property Resources Corporation was prudent to extend its occupancy at Ten Bank Street and lock in current market rates well in advance of their scheduled lease rollover A graphic element in an application or on a Web page that changes its color or shape when the pointer is moved (rolled) over it. See JavaScript rollover. See also n-key rollover. , and it is no surprise that more and more of our tenants are eager to solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. their hold on spaces in our buildings." Property Resources Corporation is no stranger to the real estate business. Founded in 1971, the firm has rehabilitated over $350 million of government-assisted housing, containing more than 4,000 New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. apartments. It also has built luxury condominiums in Manhattan. "W&M is one of the finest landlords in Westchester," says Frank Linde, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Property Resources Corporation. "We are very happy with the building, the location, and all the services we received." The company will retain its 4,157 s/fspace on the fifth floor of Ten Bank Street through 2018. Newman and assistant vice president Kathleen A. Caracappa represented the landlord in this transaction. Patricia A. Valenti of Newmark Knight Frank represented the tenant. |
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