March enters like a lion in the commercial real estate industry in Westchester County as Verizon and Xylem ink deals with Reckson, a division of SL Green Realty Corp., to take a combined 101,000 square feet of space...
The deal, which had been leaked to the press in early February, has Xlyem taking over 67,000 square feet of space at 1 International Drive in Rye Brook, NY for their global headquarters.
Xylem is a global leader in water technology, says Bill Cuddy of Executive Vice President at CBRE who brokered the deal. Cuddy also chairs the Blueprint for Westchester initiative for the Westchester County Association.
For their part, Verizon will lease approximately 30,000 square feet of office space at 500 Summit Lake Drive in Valhalla, NY, extend an additional 4,000 square feet of space at 1 International Drive, and will also extend an additional 10,000 square feet of space in Midtown Manhattan.
“We are thrilled that Xylem is locating its headquarters at 1 International Drive and joining our prominent roster of high quality tenants at the office park,” said John Barnes, Senior Vice President and Managing Director of Reckson. “This was a very complicated transaction with many moving parts."
Says Marissa Brett, executive director, Economic Development for the Westchester County Association: "Xylem and Verizon's commitment to Westchester County signals that Westchester County continues its growth as an outstanding place to work, live, and grow." Since 2011, Brett has spearheaded the Blueprint's efforts to reduce commercial space in the county and has taken more than one million square feet of space off the market.
"The Xylem and Verizon deals help Westchester fill its space with high-quality tenants and a strong workforce," Brett adds.