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White Plains Sale is Westchester’s Biggest Single-Asset Office Deal Since 2010
Newmark arranged the $105-million sale and financing of White Plains Plaza in White Plains, NY. This transaction represents the largest single-asset office sale in Westchester since 2010. Newmark represented the partnership of Ivy Realty and DW Capital and procured the Buyer, Argent Ventures, a privately held New York-based investment firm.
The team of Kevin Welsh, Brian Schulz, Jason Emrani, Evan Layne, Brett Siegel and Alex Foshay facilitated the sale. Glenn Walsh acted as the team’s leasing market advisor. Anthony Orso and Ari Schwartzbard worked on behalf of Argent to secure the acquisition financing.
White Plains Plaza consists of two institutional-quality Class A office buildings with retail totaling 715,365 square feet. The property is currently 76% leased to a diverse roster of 74 companies.
“This market-making transaction demonstrates investor appetite for Class A multi-tenant urban/suburban office properties and illustrates confidence in the long-term future of White Plains,” said Welsh.
- ◦Sale/Acquisition