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Cushman & Wakefield Orchestrates Sale of 555 White Plains Road, Tarrytown, NY

| May 19, 2017 | 0 Comments

 

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TARRYTOWN, N.Y., May 19, 2017 – Cushman & Wakefield’s Metropolitan Area Capital Markets Group arranged the sale of 555 White Plains Rd. to RMC (Robert Martin Company) as part of seller RNY Property Trust’s disposition of its Westchester County assets. The property represented a rare repositioning opportunity of a flagship office building in one of Westchester’s premier locations.

“RMC recognized the range of potential repositioning opportunities that 555 White Plains Rd. represents. They are a local company with deep roots in the market, so it really made sense to them,” said Andrew Merin, who led the Cushman & Wakefield team of David Bernhaut, Gary Gabriel and Brian Whitmer, supported by Frank DiTommaso II and Al Mirin.

The 133,645-square-foot, five-story office building sits on 4.2 acres with frontage along White Plains Road just three minutes from the Tappan Zee Bridge. Currently 25 percent leased to two tenants, the building features floor sizes of approximately 33,000 square feet and has abundant parking with a total of 386 spaces, including 64 covered executive parking spaces.

“The size of the floor plates combined with its layout and divisible floor plans allow for multi-tenanted scenarios, while its overall size and existing infrastructure make it ideal for a single tenant seeking an accessible, prominent corporate location,” DiTommaso said.

This is the third sale in 2017 that Cushman & Wakefield’s Metropolitan Area Capital Markets Group has arranged for RNY Property Trust, who hired Cushman & Wakefield to oversee the disposition of multiple Westchester County assets. The other sales were 660 White Plains Rd. and 80 and 100 Grasslands Rd. Later this month, Cushman & Wakefield will be marketing the final properties among the disposition assets, 560 and 580 White Plains Rd.

Based in East Rutherford, New Jersey, the team specializes exclusively in investment sales of office, industrial, multifamily, land and retail properties throughout New Jersey, New York, and Fairfield County, Connecticut. The team has completed more than $25 billion worth of transactions since 2000, closing over $3.2 billion in sales in 2016.

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About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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Category: Cushman & Wakefield of New Jersey, News Releases, Newswire: Latest News

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