Steady recovery good news for suburban markets.Westchester's economy is benefiting from the steady recovery taking shape across the nation during the first quarter of this year. An accelerating rate of job creation in the New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. and good news in the commercial real estate market are combining to make 2004 one of the best in recent memory for Westchester County retailers and property owners. Among private-sector job categories that grew the most in recent months are construction and retail, both reflecting redevelopment projects in White Plains and other Westchester cities. Also upbeat about Westchester in 2004 are observers of the rice market, who are predicting that vacancy VACANCY. A place which is empty. The term is principally applied to cases where an office is not filled. 2. By the constitution of the United States, the president has the power to fill up vacancies that may happen during the recess of the senate. rates should continue a slow and steady decline. An expected rise in interest rates later this year may hurt residential pricing, however that market continues to be strong after benefiting from an extended period of historically low mortgage rates. An increase in investments in new office and retail development projects is a definite sign that things are getting better. And as the economy improves, you're going to see more deals take shape in Westchester County, with several major corporate relocations on the horizon. The banking industry in particular has been in an expansion mode throughout Westchester, and all that bank expansion activity has been good for owners of shopping centers shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into and other retail properties, as new bank branches and other retailers are stoking demand for new retail space enough for retail rents to begin to rise, stimulating even more construction of additional retail space. R Squared LLC's has been experiencing encouraging retail sales numbers and leasing interest at The Source at White Plains, our new 260,000 square-foot, $96 million retail development located at Maple Avenue and Bloomingdale Road. Our company is currently searching for the final tenant for what has become the most successful retail development in Westchester County over the past several years. A prime 11,000 square-foot block of space is all that remains on the first level of the four level retail center, which is anchored by a new 180,000 Fortunoff, the upscale jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. , gift and home furnishings furnishings the extra type or quantity of hair on the head, tail, ears or legs, specified for a particular breed. For example, the feathers in setters, the beard in Bearded collies, the eyebrows in Schnauzers. retailer that opened at The Source at White Plains in September, along with a 12,000 square-foot Cheesecake Factory. We recently celebrated the opening of a 36,000 square-foot Whitewoods Market and a 9,000 square-foot Morton's steakhouse at The Source at White Plains, and are currently searching for a single tenant for the 11,000 square-foot space located between The Cheesecake Factory and the Morton's Steakhouse on the lower level. Furniture retailers, upscale clothing stores and even a day spa A day spa is a business establishment which people visit for personal care treatments such as massages and facials. It is similar to a beauty salon in that it is only visited for the duration of the treatment. have been the initial targets of R Squared's tenant search. We are extremely pleased at the enthusiastic response we have received from both retailers and shoppers at The Source at White Plains. Combined with the recent opening of several new luxury rental buildings and the improvement in the office market, the swift lease-up of The Source is great news for the future of downtown White Plains and a good indication of the rebounding retail market throughout Westchester County. R Squared LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is currently investing in retail, residential, storage, commercial loft, hotel and industrial properties located throughout the New York Metropolitan area, and currently have over seven million square feet under management, including one million square feet of development and redevelopment projects underway. R Squared LLC is a Managing Member of Rechler Equity Partners, which owns and operates six million square feet of industrial properties on Long Island. In addition to The Source at White Plains, R Squared LLC is involved in a new 360,000-square-foot retail development on Long Island and the revitalization re·vi·tal·ize tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. of Deegan Gateway in The Bronx, a 432,000-square-foot commercial loft building currently undergoing a complete interior and exterior makeover. We are extremely bullish Bullish Word used to describe an investor's attitude. Bullish refers to an optimistic outlook, while bearish means a pessimistic outlook. bullish on the future of New York's suburban markets, as these investments attest To solemnly declare verbally or in writing that a particular document or testimony about an event is a true and accurate representation of the facts; to bear witness to. To formally certify by a signature that the signer has been present at the execution of a particular writing so as , and are actively seeking new investment opportunities as we return to our roots and focus on new business and development opportunities throughout the New York metropolitan area. MITCHELL Mitchell, city (1990 pop. 13,798), seat of Davison co., SE S.Dak.; inc. 1881. Mitchell is a trade, distribution, and shipping center for a dairy and livestock area. RECHLER PARTNER, R-SQUARED, LLC |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion