Search
 

Tishman Speyer Puts Planned Town Center Property Up for Sale

WHITE PLAINS-The property that was to be the focal point of the redevelopment of Downtown White Plains is on the market.

By John Jordan | Updated on December 26, 2000

WHITE PLAINS-Officials with the city have confirmed reports that Tishman Speyer Properties of New York City has put the property–where it was to build its 400,000 sf Town Center retail/entertainment development–on the market. Sources also indicate that the firm has retained CB Richard Ellis to find a buyer. Officials with either company would not comment.

However, Paul Wood, a spokesman for Mayor Joseph Delfino, says that Tishman Speyer did inform the city that it intended to put the Town Center property up for sale. The company did not say what brokerage firm it had hired to market the property, Wood says.

The Town Center project, which was approved by the city in July, was dealt a major blow when Tishman Speyer told the city in September that the project was on hold. The developer realized that the project could not be financed sufficiently because of the fiscal woes of its main anchor, Loews Cineplex Entertainment Corp., which was to build a 21-screen, 5,1000 seat multiplex at the site.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.