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Reckson putting Executive Park in league of its own.

Reckson Associates Realty Corp. has announced robust first quarter leasing activity at the company's prestigious Reckson Executive Park in the Village of Rye Brook where a major capital improvement project is underway.

The-repositioning of the world-class corporate office park is part of a multi-million dollar commitment the company has launched to ensure its Class A office projects across the New York tri-state area exceed the expectations of its blue chip tenant base.

The capital improvement program at the Village of Rye Brook office park includes upgraded infrastructures and technological support to meet the 24/ 7 business requirements of today's corporate end-user; grand entry plazas and impressive new lobbies with rich appointments; and, a complete redesign of the landscape and vehicular travel paths to create an eloquent approach and viewing vistas for tenants and visitors.

Highlights include four new leases totaling nearly 50,000 s/f: OpHedge Investment Services, Inc, a cutting-edge provider of middle and back-office operations to the investment management industry leased 25.000 s/f at 3 International Drive. Martin Horner from the Staubach Company represented OpHedge;

Over 15,000 s/f at 6 International Drive leased by Tag Aviation, worldwide leader in personal air transportation services. John Wheeler from Jones Lang LaSalle in conjunction with Antares Real Estate, represented Tag Aviation for their Northeastern Headquarters;

Over 4,500 s/f at 5 International Drive leased by Northwestern Mutual, the nation's largest direct providers of individual life insurance. John Hannigan from Choyce Peterson represented Northwestern;

Over 2,200 s/f at 4 International Drive leased by Progressive Products, a leading manufacturer of hand wipes. Tim Dinohaue and Kevin McCarthy from Jones Lang LaSalle represented Progressive Products.

"We are very pleased with the recent leases signed at Reckson Executive Park in the Village of Rye Brook, especially with the outstanding quality of the tenants coming to the park," commented Salvatore Campofranco, COO.

"The fact that OpHedge has joined the long list of boutique financial services firms at Reckson Executive Park highlights the property's great locational strengths, particularly its prominence on the financial corridor of King Street. The corridor has evolved to become a natural home to many hedge funds and money management firms as a result of its proximity to and connectivity with downtown Greenwich. CT and the bedroom communities of Purchase. Greenwich, Harrison and Armonk.

"One and Two International Drive will be repositioned to focus on creating the ambiance and high quality space these firms desire, as well as the superior services and amenities the Company provides to all of our tenants."

With the completion of the repositioning program at Five International Drive, the next phase of the capital improvement program will focus on both One and Two International Drive. These properties Will offer prospective tenants elegant plaza entries and lush landscaping. Fully demolished floors will provide for the customized workspaces discerning tenants require.

Reckson Executive Park in the Village of Rye Brook is a Class A corporate complex on 76 acres on the prestigious Westchester/Greenwich border. The complex is fully-amenitized and offers a superior location with accessibility to all major interstates and highways, such as I-287, the Merritt, Hutchinson River Parkway and I-95.

The property is adjacent to the Doral Arrow wood Conference Facility and is surrounded by a world-class roster of corporate neighbors such as IBM. PepsiCo, Swiss Re, Pfizer, MasterCard, MBIA, Morgan Stanley, Nokia, and Motts.
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Publication:Real Estate Weekly
Date:Apr 19, 2006
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