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White Plains Offices Trade to JV
CBRE Institutional Properties’ Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, David Gavin, Gene Pride and Stuart MacKenzie closed on the $42.5-million sale of Grand Street Plaza in White Plains, NY.
The CBRE team represented the seller, an entity owned by a fund managed by Westport Capital Partners LLC. They also procured the buyer, a joint venture between Jack Sitt Real Estate LLC and GII LLC, a UAE-based financial service firm.
Located at 140 and 150 Grand St., Grand Street Plaza consists of two adjacent Class A office buildings totaling 217,628 square feet. The property is strategically located within one block of the Supreme, Federal, District and County courthouses, as well as the Westchester County Seat.
“Grand Street Plaza’s institutional quality, coupled with its unmatched proximity to the courthouses, attracts diversified legal practices and government tenants, which should provide the buyer with long-term stable cash flow for the foreseeable future,” Dunne said.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
