White Plains building sees flurry of new leases

Real Estate Weekly, Jan 15, 2003

333 Westchester Ave., the former General Foods headquarters complex in White Plains that has been transformed through a Philip Johnson design into an elite multi-tenant corporate center by developer/owner Charles S. Cohen, has begun the New Year with a flurry of leasing activity.

In the largest of a trio of just completed signings involving nearly 45,000 SF of long-term leases, Bermuda-based Endurance Specialty Holdings, a prominent commercial insurance and reinsurance company, has taken an entire floor in the West Building comprising 21,625 SF of office space for its New York headquarters.

The company will begin a phased move-in of approximately 80 employees starting this month. William Korchak of Jones Lang LaSalle represented the insurance firm in the long-term leasing transaction.

In another signing, Merit Direct, a marketing company, has sublet 20,000 SF from Allied Irish Banks and will relocate its corporate headquarters from Stamford, CT, to 333 Westchester Ave. Approximately 75 people will be involved in the move to White Plains.

Gerry Lees and Terry Brown of Cushman & Wakefield represented Merit Direct in the transaction while Allied Irish Bank was represented by Patrick Gardner and Richard Sykes.

In another lease, Stone, Russo & Lassaro, LLP., a certified public accounting firm, has taken approximately 2,500 SF and will begin moving into 333 Westchester Ave. this month.

Exclusive leasing agent Colliers ABR, Inc., represented by vice chairman Stephen J. Riker, managing director Michael Norris and associate Michelle DeBerry represented owner Cohen Brothers Realty Corporation in all of the transactions.

"There's tremendous interest right now in 333 Westchester Ave. from many companies, which like Endurance Specialty Holdings, see this unique corporate center as an ideal site for their New York State headquarters," stated Riker. "We hope to announce more deals in the very near future."

Special on-site amenities at 333 Westchester Ave. include a 15,000-SF freestanding state-of-the-art fitness center with exercise equipment, personal trainers and a half-basketball court; over 2,000 parking spaces; a lavish 20,000-SF cafeteria with private dining rooms operated by FLIK International, and a conference center with meeting space for 200.