Addison-Wesley signs lease at Ten Bank St. in Purchase

Real Estate Weekly, Dec 11, 1991

Addison-Wesley signs lease at Ten Bank St. in Purchase

In the largest lease transaction so far this year in downtown White Plains, Addison-Wesley Publishing Company has signed a long-term lease for 35,753 square feet at Ten Bank Street, it was announced by Rostenberg-Doern Company, Inc., the executive agent for the building owner, Homart Development Co.

Addison-Wesley, which is headquartered in Reading, Massachusetts, will consolidate two of its divisions - Longman Publishing Company and Cuisenaire Company of America Inc. - to the 12-story building. Both divisions, which are moving from smaller locations in White Plains and New Rochelle, are expected to occupy the new office space in 1992.

Addison-Wesley was represented by Phil Giunta of Leggat McCall/Grubb & Ellis of Waltham, Mass., and Gerald T. Rhine. John H. Rostenberg and John P. Hannigan of Rostenberg-Doern Company, Inc. represented Homart in the transaction.

Founded in 1724, Longman Publishing Company is the world's oldest publishing company. The company publishes textbooks in the fields of the humanities for the secondary, college and adult education level. Longman Publishing moved to Westchester from New York City in 1985. The company is currently located in White Plains.

Cuisenaire Company of America Inc. is a leading manufacturer and publisher of science and mathematics teaching materials. The company is best known for its wide selection of mathematics models that are used to help elementary school children visualize mathematical concepts. The company, which was founded in 1958, moved from New York City to Mount Vernon in 1964. In 1970 it moved to its current location in New Rochelle. Cuisenaire operates a 100,000 square-foot warehouse in Orangeburg, N.Y.

Ten Bank Street, a 219,000 square-foot granite and glass building, is located one block from the White Plains Transportation Center. The location provides immediate access to the Bronx River Parkway and all local highways are just minutes away. Since the beginning of this year, eight leases for a total of 64,730 square feet of space have been signed at Ten Bank Street. Ten Bank Street is owned and managed by Homart Development Co., the real estate development arm of Sears Roebuck & Company.