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Leasing Interest Peaking at Former IBM Facility

MOUNT PLEASANT, NY-The ownership of the former IBM Latin American headquarters building here says that a number of large lease transactions are in negotiations and several deals could be announced soon.

By John Jordan | Updated on December 03, 2000

MOUNT PLEASANT, NY-The former IBM Latin American headquarters property here hadn’t attracted much interest after IBM vacated the property last year. However, the intense leasing activity in Westchester County has produced tangible prospects for this 383,000-sf corporate headquarters facility.

Robert Martie, senior vice president of Gale & Wentworth of Florham Park, NJ, which owns the property now called the Mount Pleasant Executive Center, says that Westchester’s office market had lagged behind other suburban locales such as New Jersey and Connecticut. Activity in Westchester is now intense and available space is on the decline, however.

“It was like somebody turned on the on-switch in January 2000,” he recalls. Gale & Wentworth acquired the property situated on 67 acres in November 1998. Last year, IBM vacated the site, which had served as headquarters for its Latin American operations since it was built in the 1970s.

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