C&W Named Leasing Agent For 1.1M sf Westchester/Fairfield Portfolio (Press Release)
STAMFORD, CONN. – June 6, 2012 – Cushman & Wakefield today announced that it has been named the exclusive leasing agent for RXR Realty LLC’s (“RXR”) 1.1 million-square-foot Westchester and Fairfield County office portfolio. The properties include its Tarrytown Corporate Center: 505, 555, 560, 580 and 660 White Plains Road; its Elmsford buildings at 80 and 100 Grasslands Road; and its distinctive trophy office buildings at 225 High Ridge Road in Stamford, CT.
The portfolio is home to some of the region’s finest tenants including a broad array of Fortune 500 companies, such as Philip Morris Capital, Bayer, Liberty Mutual, Oracle, Xerox and Bank of America. In addition to sophisticated workspace, amenity packages throughout the portfolio include on-site cafeterias, fitness and conferencing centers. Other features include 24/7 security, high ceilings and flexible floor plates ideal for large or small tenants. All of the buildings are well located, offering easy access to major highways, retail destinations, hotels and other local amenities.
“We chose Cushman & Wakefield as our leasing agent because of its exceptional reputation in both Westchester and Fairfield Counties,” said RXR Executive Vice President and Director of Portfolio Management Michael McMahon. “They have a tremendous track record for marketing space and excellent relationships with the region’s most prominent tenants. I’m confident that their expertise will help us to achieve our goals for this important portfolio.
The Cushman & Wakefield leasing team is comprised of Gregory V. Frisoli, senior director; Lawrence A. Ruggieri, director; Brian Scruton, associate director; and Clint Dewey, associate.
“RXR is one of the most prominent landlords in the tri-state area,” said Mr. Frisoli. “They are particularly known for meticulous building maintenance, property management and a commitment to tenant service. This exceptional portfolio covers the range of tenant needs from the small-tenant space user to tenants seeking best-in-class buildings with premier Class-A amenities, all while priced to be economically competitive. In fact, the activity in the portfolio has already been brisk and we expect to announce several new transactions shortly.”
“Over the years, RXR has retained much of its tenant base by creating opportunities for its tenants to grow within their existing locations,” added Mr. Ruggieri. “This ability, along with its turnkey approach to deal making and aggressive economic packages, makes the RXR portfolio an excellent occupancy solution for most any tenant.”
Two buildings in the portfolio are considered by many to be best in class in their respective markets: 225 High Ridge Road in Stamford and 660 White Plains Road in Tarrytown. Known for its well-designed, classic architecture, 225 High Ridge Road offers top-quality construction, covered parking, a host of on-site amenities and meticulously manicured grounds. Along with its newly renovated lobby, 660 White Plains Road has a unique architectural design and a wide range of amenities that sets it apart from other buildings in the market.
About RXR Realty
RXR Realty LLC (“RXR”) is a vertically integrated, private real estate company with expertise in investment management, property management, development, design, construction, leasing and financing.
RXR’s core growth strategy is focused on New York City and the surrounding tri-state area markets. RXR is one of the largest owners, managers, and developers in the New York tri-state area, with interests in approximately $4.7 billion of assets, comprised of 106 operating properties containing approximately 18.0 million square feet. For information about RXR, visit www.rxrrealty.com.
About Cushman & Wakefield:
Cushman & Wakefield is the world’s largest privately-held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 243 offices in 60 countries and more than 14,000 employees. It offers a complete range of services for all property types, fully-integrated on a global basis, including leasing, sales and acquisitions, debt and equity financing, investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $5.5 billion in assets under management through its wholly-owned subsidiary, Cushman & Wakefield Investors. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.
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