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October 16, 2019Cart

Business

by Westchester County Business Journal
by WCBJ

GHP Office Realty fully leases Tarrytown building with ENT & Allergy HQ move

GHP Office Realty has fully leased 660 White Plains Road in Tarrytown since acquiring the 265,000-square-foot, Class A office building in March for $30 million and completing a $5 million renovation, partners at the West Harrison firm announced.

660 White Plains Road

The deals, among 195,000 square feet of recent leasing activity at GHP’s Westchester properties, include the headquarters relocation of ENT & Allergy Associates LLP from a nearby office building in Tarrytown Corporate Center.

The former RXR Realty property was 78 percent occupied when GHP and an investment partner, RD Management in Manhattan, bought it last spring. It was one of 19 office properties in Westchester and Fairfield counties, Long Island and New Jersey put on the market this year by RXR affiliates and the portfolio’s majority owner, RNY Property Trust, an Australian REIT managed by an RXR affiliate, to satisfy debt modification agreements with a bank lender.

ENT and Allergy Associates (ENTA) has leased 38,128 square feet at 660 White Plains Road for its headquarters, which will be relocated from 560 White Plains Road. That property and the adjacent 580 White Plains Road also were put up for sale this year by the Australian REIT and RXR.

A specialty practice with about 195 physicians in 40 offices in the metropolitan area, ENTA will house its executive staff and a call center and data and IT center at its new location, according to GHP.

The largest tenant at 660 White Plains Road, Prestige Brands Inc., renewed and expanded its long-term lease, GHP principals said, and will occupy 68,886 square feet of space on two floors for its corporate headquarters. A publicly traded distributor of over-the-counter health care and household cleaning products, Prestige Brands reported about $882.1 million in net revenues in 2017.

At another GHP Office Realty property in the county, Fordham University renewed its 62,500-square-foot net lease at 400 Westchester Ave. in West Harrison for the university’s Westchester campus. It is home to the Fordham School of Professional and Continuing Studies, the Gabelli School of Business, the Graduate School of Education and the Graduate School of Social Service.

In Elmsford, Interior Resources Group, a furniture, fixtures and equipment installation company leased 24,500 square feet of space at GHP’s 375 Executive Boulevard, bringing the 80,000-square-foot building to full occupancy.

GHP principal Andrew Greenspan said Interior Resources will move its operations from Rye Ridge Plaza in Rye Brook to the 80,000-square-foot flex property in the Cross Westchester Executive Park.

GHP Office Realty is a division of Houlihan-Parnes Realtors LLC.