Located at 44 South Broadway, 906,689-sf property stands among market’s largest office buildings; scheduled for major capital improvements + prebuilt leasing program
Cushman & Wakefield announced today that the firm was exclusively retained by new ownership to lease and manage Westchester One at 44 South Broadway. Westchester One, the largest office building in White Plains at 906,689 square-feet, is poised to undergo a major capital improvement and leasing program. The Cushman & Wakefield team includes Mike McCarthy, Matthew Lisk, Steve Baker and Josh Kurloff.
Westchester One is currently 88 percent occupied, with the largest remaining block of available space measuring approximately 60,000 square feet. New ownership, a New York City-based investment fund, is planning a multi-million dollar capital improvement program and high-end prebuilt program to attract smaller tenants.
This well-located asset is ideally positioned for space users who want to be in close proximity to the local shops and restaurants including the Westchester Mall, while also having access to large, efficient floor plates, which enables growth and expansion in a flexible and well-organized space.
The extensive capital improvements program will feature a refreshed building lobby, new elevator finishes and systems, an expanded on-site cafeteria and fast casual food option, garage improvements, and upgrades to the other common areas.
The property most recently signed New York Life (192,060 square feet) and Lowey Dannenberg (14,912 square feet) to long-term office leases.
“Westchester One has had great success, and now with the new ownership and capital improvements program we look forward to bringing the property to full occupancy,” said Steve Baker, Executive Managing Director of Cushman and Wakefield. “In the past few months, we have seen a strong and improved vibrancy in the White Plains market and believe that this prominent asset will attract an even wider variety of tenants.”
In addition to the robust office leasing activity in White Plains, there has been an unprecedented amount of residential development planned in the downtown area. The White Plains CBD alone — which totals 6 million square feet of office space — has seen several obsolete commercial buildings coming off the inventory list, scheduled for conversion, with approximately 3,000 new residential units set to deliver over the next 24-36 months.
Westchester One is conveniently located within a five-minute walk of The Westchester Mall, City Center, Mamaroneck Avenue banks, restaurants, health clubs, and retail shops. The building also offers a shuttle to the Metro North Train Station. The nearby Ritz Carlton and Crowne Plaza Hotels provide more than 500 rooms, as well as conference facilities, banquet halls and spas.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
