Reckson has an A class year, with deals totaling 396,000 s/f in first half of 04'

Real Estate Weekly, Sept 8, 2004

During the first half of 2004, Reckson Associates has reported an increased up-tick in activity within its Westchester county portfolio, completing in excess of 396,228 s/f in transactions. With more than 21 office buildings, totaling 3 million s/f of rentable space throughout its Westchester class A office portfolio, Reckson is one of the largest office landlords in the market.

"Reckson's continued success in Westchester county during the first half of 2004 is attributed to the company's unparalleled dedication to providing our tenants with a superior work environment in the highest quality buildings," said Reckson Westchester senior vice presidents and co-directors John Barnes and Greg Caggainello. "We are witnessing an increase in tenant demand as a result of a rebounding and growing economy."

Highlights recorded in Westchester county in the first half of 2004 by Reckson Associates include:

Kraft Foods Inc., the second largest food and beverage company in the world, signed a lease for an additional 54,632 s/f of space at Reckson Corporate Center located at 120 White Plains Road in Tarrytown, N.Y. In March 2004, Kraft signed a lease for 78,000 s/f at the location and is relocating more than 300 employees from Rye Brook, N.Y. to the Center. This lease brings the total amount of space occupied by Kraft to 132,632 s/f, comprising three floors of the class A office facility.

Arch Capital has signed a new lease for 17,000 s/ f of space at Reckson Metro Center, 360 Hamilton Ave. in White Plains. The 12-floor, 380,625 s/f state-of-the-art building features a classically designed lobby with granite and wood detailing, sophisticated finishes and interactive directory. The property offers a full-service cafe, conferencing facilities, fitness center, boardroom, extensive covered parking and private tenant shuttle to commuter rail as well as direct access to I-287, Hutchinson Parkway, I-95 and Bronx River Parkway.

PepsiCo. is renewing its lease for 75,090 s/f of office space at 100 Summit Lake Drive, a part of the premier Reckson Summit office complex in Valhalla.

Additional new leases and renewals were signed by Spar Marketing Force, Inc. at 580 White Plains Road, Fuji at 200 Summit Lake Drive and Clarfeld Financial Advisors and Comphis Data Innovations, both at 560 White Plains Road.