Argent expands to 55,000 s/f

Real Estate Weekly, May 12, 2004

Commercial real estate services firm Cushman & Wakefield has announced that Argent Mortgage Co., the firm that signed the largest lease in Westchester County in 2003, is again increasing the amount of office space it occupies in White Plains.

Less than four months after it signed a long-term lease for 223,366 square feet at Westchester One at 44 S. Broadway, the California-based mortgage lender leased an additional 42,133 square feet on the entire ninth floor of the building. The company also occupies floors 12, 13, 15, 16, a portion of l0 and the lower level at 44 South Broadway. In addition, Argent occupies 300,000 square feet at 333 Westchester Avenue.

Gerard E. Lees, senior director, of Cushman & Wakefield of Connecticut, Inc., and John Gillespie of Newport Commercial Realty Advisors represented Argent Mortgage Company. Gregory V. Frisoli, director, of Cushman & Wakefield of Connecticut, Inc., and Edward J. Weiss, Vice Chairman, of Cushman & Wakefield, Inc. in New York, represented the landlord, Nicholas Pepe, of Westchester One.

"Because Argent's previous lease allowed for significant expansion opportunity, the firm was able to lease the additional amount of space it needed at 44 South Broadway in an efficient manner," said Mr. Frisoli. "Ownership was extremely accommodating and this sped up the negotiation process."

44 South Broadway is the largest Class A office building in Westchester County, encompassing approximately 860,000 square feet. Approximately 120,000 square feet of prime office space remains available for lease.