140 Huguenot Street, New Rochelle, NY
July, 2017 – GHP Office Realty, LLC, a major owner of office properties in the tri-state region, is pleased to announce that it has leased 49,500 square feet at 140 Huguenot Street, New Rochelle, New York, a 64,000 square foot, three story office building. GHP acquired the building in March 2016, when it was 65% occupied, and has since invested over $1 million in capital improvements to the building’s common areas, facade, onsite parking garage, as well as converting the existing HVAC systems to energy efficient rated systems. The building is now 92% leased.
140 Huguenot Street was represented by GHP Office Realty’s Andrew Greenspan, Principal. Greenspan said; “We are pleased with the success of our leasing and marketing program for the building. The recent deals are worth over $7,000,000. In addition to our capital investment and our high quality tenant service, 140 Huguenot Street’s location and its proximity to the New Rochelle CBD, the New Rochelle Intermodal Transportation Center and Interstate 95 at Exit 16, make it an attractive location to tenants for its accessibility for their employees and clients.” Greenspan added; “We continue to utilize our opportunistic, value-add acquisition formula, purchasing undervalued, income producing assets in great locations that we are familiar with, investing in capital improvements and successfully leasing vacant space and renewing existing tenants.”
The transactions were:
Mary Anne Liebert, Inc. renewed its 25,370 square foot headquarters office space consisting of the entire third floor of the building and a portion of the second floor for six years. In the building since 2004, the company is a leader in the Scientific, Technical, and Medical knowledge and information industry. They are known for authoritative international publications in cutting-edge basic and translational biomedical research, with expanding scope in engineering, business, environment, and legal publications. Mary Ann Liebert, Chairman and CEO of the company commented; “We are very pleased with new ownership’s investment in the building and its responsive management. These were major factors in our decision to commit to another six years in the building.”
Monroe College, LTD, renewed its 13,000 square foot lease on the ground floor for four years. The space is used as classroom space. Monroe was represented its President, Mark Jerome. The Guidance Center of Westchester (TGCW) relocated from 277 North Avenue in New Rochelle into 6,949 square feet on the street level in the building, the former Banco Popular bank branch. That space had been vacant for over ten years. Since 1942, TGCW has served the Westchester community. It is distinctive in offering a broad scope of interrelated service areas which, individually and collectively, help clients achieve successes in education, work and personal relationships through college and career preparation, early childhood education, substance use, mental health treatment and housing permanency. Executive Director of TGCW, Amy Gelles stated; “Our new state of the art facility with a direct entrance for our clients from Harrison and Huguenot streets will allow us to continue to provide high quality, low cost services to the New Rochelle and neighboring communities for at least the next ten years.” Roy Katter, Principal of Katter Property Company, Inc. represented TGCW.
J&K Staffing, Ltd renewed its 2,904 square foot lease on the lower level of the building for eight years. The company specializes providing home healthcare aides.
Radiant Light Women’s Health Nurse Practitioner, P.C. leased 779 square feet on the second floor. The company specializes in women’s health issues.