Reckson Associates honors brokers at White Plains event

Real Estate Weekly, Jan 8, 2003

In keeping with company tradition, Reckson Associates Realty Corp. held its annual year-end event at Reckson Metro Center in White Plains and presented awards to those industry leaders who have exemplified the best of the commercial brokerage profession.

The event was attended by the region's leading commercial real estate brokers and business executives and public officials. At the gathering, Reckson awarded its 2002 Broker of the Year honors to GB Richard Ellis, Inc.'s Al Gutierrez, Frank Tomasulo, Paul Hoffman, and Paul Myers for the Fuji Photo Film U.S.A., Inc. transaction at Reckson Summit and to Jones Lang LaSalle's Lisa Kiell and Michelle Vitanzo for the Skadden Arps lease at Reckson Metro Center.

"Each year, we recognize those key individuals whose leasing transactions best exemplify Reckson's ideology for creativity, complexity, relationship building and the development of workplace solutions for top Companies. These brokers served their clients well, and in doing so, have helped with our success in 2002," noted Salvatore Campofranco, managing director Westchester and Connecticut Division.

In 2002, Reckson Associates reported significant results in Westchester and Fairfield Counties with 96 transactions, resulting in over 750,000 SF of leases, including new leases, renewals and expansions. This performance includes the Fuji Photo Film U.S.A., Inc. lease which was the eighth largest lease signed nationally in the third quarter.

In addition, four of the largest 10 deals completed in 2002 in Westchester and Fairfield Counties were at Reckson properties.

Recognized as one of the largest transactions completed since 2000 in Westchester County, the imaging and information industry leader, Fuij Photo Film U.S.A. leased 164,000 SF at Reckson Summit at 200 Summit Lake Drive in Valhalla for their U.S. headquarters.

GB Richard Ellis, Inc.'s Al Gutierrez, Frank Tomasulo, Paul Hoffman, and Paul Myers worked closely with Reckson in negotiating this complicated long-term lease that involved over 250,000 rentable SF and had impact on more than seven existing Reckson tenants, involving five properties in the Company's portfolio.

The lease for the nation's top law firm, Skadden Arps, Slate, Meagher & Flom LLP, at Reckson Metro Center was also acknowledged with a 2002 Broker of the Year Award to Jones Lang LaSalle's Lisa Kiell and Michelle Vitanzo. The 48,842 SF transaction for the firm's critical infrastructure has been cited as a precursor to real estate industry trends. Commercial real estate publications report that numerous businesses that generate high-volume data integral to their business success are shifting data and office support to off-site "preparedness" facilities to ensure that unforeseen events do not disrupt work flow.

Campofranco cited at the event, "We are proud of both of these award-winning transactions. We have developed excellent relationships with both the brokerage teams and the tenants and look forward to providing the high-caliber of service for which we are known."

Campofranco saluted County Executive Andrew Spano and White Plains Mayor Joseph Delfino with his comment, "Westchester and White Plains are on the radar screen as a result of their hard work."