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Parker Corporate Center in final phase of major renovation.

The final phase of the re-invention of Parker Corporate Center from a former IBM technology center to a multi-tenant Class A office campus is almost completed, generating much interest among Westchester, New York City and Fairfield County's real estate communities.

In a market with a reputation for starts and stops, where projects often begin renovations only to run out of money and sit idle for years, the Parker Corporate Center is getting kudos from real estate professionals for adhering to its original plan and maintaining a strict construction schedule. Tenant occupancy is imminent.

"Real estate brokers who may have been dubious in the past, are now seeing how comfortably a mix of tenants ranging in size from 5,000 to 300,000 square feet, will fit into our property," said Robert S. Skolnick, vice president and director of New Development for The Jack Parker Corporation, owners and managers of the building. "Currently there are lease negotiations from 8,000 to 107,000 square feet, and a few in between."

John Goodkind, executive managing director of the Westchester and Connecticut office of Newmark & Company, the commercial brokerage firm handling the leasing of the building, concurs. "Activity in Westchester is robust," said Goodkind. "Tenants from New York City, Westchester and Fairfield County are circling the property. We fully expect to announce a couple of major tenant deals, which coincide nicely with the timing of the completion of the building's renovation."

Parker Corporate Center consists of three 100,000-square-foot interconnected modules located on a 27-acre campus. Large corporate tenants have the option of leasing an entire module with its own distinguished entrance, parking area, lobby and other amenities. Smaller users can lease blocks of space from 5,000 square feet and up.

Built in 1982 for IBM by The Jack Parker Corporation, the Center's telephone, data transmission, and cable infrastructure have the capacity for meeting the technological needs of today's most demanding tenant.

In renovating the building to accommodate multiple tenants, the interior common areas and the exterior office campus are being transformed. "The overall effect will be one of refined elegance with classic lines in a contemporary setting," said Phil Fruchter, principal of Papp Architects, PC, the firm handling the renovation. The firm completely redesigned the lobbies in all three modules with two-tone granite floors, rich mahogany wainscoting and fabric wall insert panels with a muted neutral pattern. The elevator cabs are being outfitted with the same materials to continue the design concept. A coffered ceiling will provide indirect lighting to augment the natural light that filters in through glass walls.

The focal point of the building's interior is the four-story open courtyard in the center module adjacent to the lobby. This central courtyard will be completely revised with new landscaping, a waterfall and outdoor seating for tenants. A former wall has been removed, replaced by floor-to-ceiling glass walls for easy visibility and access to this natural setting from the front lobby, the newly designed cafeteria and the soon to be completed full service, state-of-the-art fitness center.

One of the most dramatic changes occurring at the site is the revised street presence, including impressive landscaping at the building's front entrance. The new plaza being created will be an oasis of tranquility, with a waterfall feeding into a small pond. Stone seating has been integrated into the plaza, inviting visitors to stop and enjoy the view. Both the front plaza and the interior courtyard are visible from the lobby, integrating the exterior and interior spaces into one unified environment.

Founded in 1955, The Jack Parker Corporation has built and developed a wide range of real estate properties, from the worldclass Hotel Parker Meridien in the heart of Manhattan, to industrial and corporate office parks in eastern United States, to luxury multi-family dwellings in Florida and the Northeast.
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Publication:Real Estate Weekly
Date:Sep 9, 1998
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