Newmark is pleased to announce it represented Milber Makris Plousadis & Seiden, LLP (MMP&S) in the completion of a 29,753-square-foot sublease, relocating the firm to 709 Westchester Avenue in White Plains, New York. Newmark Executive Managing Director Patricia Valenti represented the tenant in the transaction.
709 Westchester Avenue is a five-story, 126,880-square-foot, Class A office property and is one of 14 buildings that comprises The Exchange, a corporate park totaling 1.5 million square feet along the Route I-287 corridor, in the heart of Westchester County. Owned by Normandy Real Estate Partners, the beautifully maintained campus offers six full-service cafeterias, outdoor seating areas, two fitness centers, two conference facilities and ample parking throughout. Notable tenants include New York Life, UBS Financial Services, Stuart Title Insurance and Citrin Cooperman, among others.
MMP&S is a litigation law firm that provides services in a wide range of practice areas, including the defense of accountants, attorneys, design professionals, contractors, agents and brokers, directors and officers, healthcare professionals, employment practices and many others. The firm operates through its offices in New York, New Jersey, Connecticut and Florida, and will be more than doubling its current 12,363-square-foot space at 3 Barker Avenue in the White Plains central business district to occupy the entire third floor at 709 Westchester Avenue. MMP&S entered into a sublease with W.J. Deutsch & Sons Ltd. (d/b/a Deutsch Family Wine & Spirits) following the company’s departure from the vicinity earlier this year. The space is fully upgraded with impressive finishes and will be a plug-and-play with features including fiber optic communications, DSS satellites, computerized key tag systems and more.
“We expanded the search for MMP&S’s new headquarters beyond the White Plains CBD submarket to allow the firm more space to expand its footprint and accommodate its growing business,” said Valenti, who has represented the tenant for over ten years. “After thorough evaluation of the firm’s needs and available options, the team recognized the value of our proposal of an early relocation. The upgraded premises and amenities, especially the parking, available at 709 Westchester Avenue offered the best value for MMP&S and its employees.” Valenti has also been retained to market MMP&S’s current premises comprising the entire penthouse floor at 3 Barker Avenue on a sublease basis with flexible terms.
The Exchange location provides direct access to 1-287 and I-95 as well as the Hutchinson and Bronx River Parkways, making it easily accessible to New York City and the rest of the Tri-State area. Still within minutes of downtown White Plains, employees will enjoy the benefits of a suburban live-work-play environment with numerous casual and fine dining options, department stores and exclusive boutiques and services nearby.
“We are excited to strengthen our presence in the Westchester area with this relocation and expansion,” said Mark Seiden, partner of MMP&S. “Our new office at the Exchange will be key in attracting top talent in our industry, ensuring our firm is able to continue its organic growth and increase the level of service we offer to our clients.”
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.