Carl Austin, president of Austin Corporate Properties, Inc., and Howard E. Greenberg, president of Howard Properties, Ltd., announced that their firms have represented Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony in a lease transaction totaling 57,458 sf of space in Westchester county.
Austin and Greenberg negotiated a long-term Long-term
Three or more years. In the context of accounting, more than 1 year.
1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. lease extension for Nortel at The Summit in Valhalla, N.Y. Nortel has been a tenant at the office park since 1990, occupying the entire top floor of 200 Summit Lake Drive. The Summit is one of the premier class "A" office parks in Westchester county and is owned and managed by Reckson Associates Realty realty n. a short form of "real estate." (See: real estate)
REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Corp.
Nortel Networks is a company specializing in telephony Meaning "sound over distance," it refers to electronically transmitting the human voice. In the beginning, telephony dealt only with analog signals in the circuit-switched networks of the telephone companies. , data, wireless, and wireline solutions for the Internet. With headquarters in Brampton, Ontario Brampton (IPA: ˈbræmptən, ˈbræmtən) is a city in the GTA of Ontario, Canada and the seat of Peel Region. As of the 2006 census, Brampton's population stood at 433,806. , Nortel has more than 70,000 employees worldwide and produced $21.3 billion of revenue in 1999.
Carl Austin, president of Austin Corporate Properties, Inc. of Rye Brook, and Howard E. Greenberg, president of Howard Properties, Ltd. of White Plains, represented McCullough, Goldberger & Staudt in this transaction.