News
WESTCHESTER'S 'LAST-SECOND HEROICS'
December 21, 2011
| Law firm Wilson Elser is moving into 125k SF at RPW Group's 1133 Westchester Ave. It's the area's largest lease this year and is likely to stay that way, considering it snuck in almost at the buzzer. (Note: We don't count next week since Bisnow won't be publishing—we're vacuuming pine needles instead of CRE scoops). |
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| Cushman & Wakefield's Glenn Walsh (with fellow landlord rep Larry Ruggieri, snapped this morning at their 800 Westchester Ave office) tells us RPW bought the 600k SF "Ugly Betty building" from IBM in '07 and renovated it into a multi-tenant hot spot, including for ITT's world HQ. Wilson Elser (repped by The John Buck Co and Howard Properties) will build out its space when Starwood Hotels heads to Stamford in February. The law firm's lease doesn't begin until December '13 and includes eight months of free rent. Glenn also tells us Starwood is leaving over 200k SF at 1111 Westchester, not to mention the 140k SF vacancy Wilson Elser will leave at 3 Gannett Dr. That puts Westchester's office vacancy at a "not terrible but not great" 18%. |
