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Scarsdale Firm Buys White Plains Office Complex

WHITE PLAINS-GHP Office Realty has once again expanded its office portfolio in the New York Metro area with the acquisition of 1 and 4 West Red Oak Lane, which total 150,000 sf of space.

By John Jordan | Updated on October 03, 2000

WHITE PLAINS-The Archon Group, a subsidiary of Goldman Sachs, has sold the two-building complex at 1 and 4 West Red Oak Lane to GHP Office Realty, a relatively new Scarsdale-based real estate company that is aggressively expanding its office and flex space portfolio in the New York metropolitan area.

No purchase price was revealed. The properties were 83% leased at the time of sale and talks are under way to bring the complex to full occupancy. The 1 West Red Oak Lane building, which totals 20,000 sf, is vacant, while 4 West Red Oak, a four-story building that totals approximately 130,000 sf, is fully occupied.

Andrew M. Greenspan, a principal of GHP Office Realty, says that the complex should be fully leased in the near future. “We are in negotiations with a tenant for the remaining 20,000 sf of available space,” he says. “We hope to make an announcement soon.”

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