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Reckson Associates Realty Corp.

Reckson Associates Realty Corp. has announced twelve recent lease transactions totaling 263,234 SF at their properties in Westchester county. After leasing a year-to-date total of more than 680,000 SF, Reckson has brought their portfolio in the county to more than 95% occupancy.

Recent leasing activity at the 699,045 SF Reckson Summit office park totaled 86,728 SF in renewals and new lease agreements. With a focus on providing tenants with the facilities and amenities needed to meet their business goals, Reckson has forged long-term tenant/landlord partnerships, evidenced by numerous renewals and Reckson's 70% market share in the Valhalla market. In the largest of the ten lease transactions, Nortel Networks, Inc. a provider of wireless Internet solutions, is continuing their tenancy, leasing 57,458 SF at 200 Summit Lake Drive in Valhalla. Carl Austin of Austin Properties & Fischer & Company, represented Nortel in the transaction.

Tradeout.Com, a business to business surplus merchandise broker, has joined the tenant roster at 100 Summit Lake Drive, leasing a total of 56,869 SF on the second and third floors. Dean Shapiro and Jon Gershman of Insignia/ESG, Inc. were the brokers for the lease agreement. Lucent Technologies, another long-term tenant, has renewed its lease for 22,045 SF at the same location. Leslie Smith and Greg Frisoli of Cushman & Wakefield represented the tenant in the negotiation. Globalserve Computer Services, Ltd., a computer services firm, has joined the tenant roster at 200 Summit Lake Drive. Globalserve has leased 7,225 SF of the second floor. John Sheehan of Delmhorst & Sheehan, Inc. represented the tenant in the lease agreement.

In Tarrytown, at the Reckson Corporate Center, CIGNA, Corp., a provider of employee benefits, has leased 56,152 SF at 120 White Plains Road.

Companies continuing their tenancy with Reckson at the Tarrytown Corporate Center include AIG Claims Services, Inc., an insurance firm, leasing 25,826 SF at 660 White Plains Road and Hudson Management Services Organization, Inc. which has renewed for 4,735 SF at 580 White Plains Road; Pegasus Access Management, Inc., which has leased 2,378 SF at 120 White Plains Road. Newmark and Company was the broker in the lease agreement. Alsac/St. Jude's Children's Hospital, relocated to 1,347 SF at 560 White Plains Road; and General Formulation, Ltd., which has leased the 700 SF vacated by Alsac/St. Jude's at 505 White Plains Road.

Reckson's Tarrytown Corporate Center consists of seven buildings, totaling 708,000 SF. The Corporate Center is located on the Route 19 corridor at the New York State Thruway interchange.

In the White Plains central business district, Reckson has completed 2 transactions. Spherion Corp. has renewed for 2,200 SF at 140 Grand St., White Plains. Amy Lerner of CB Richard Ellis, Inc. represented the tenant in the transaction. ThePit.Com, an online auction house, has leased 6,284 SF at 245 Main St., also in White Plains.
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Oct 11, 2000
Words:484
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