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Deals in Works at Former IBM Latin America HQ

MOUNT PLEASANT, NY-An executive with Gale & Wentworth LLC says that his firm is cautiously optimistic that some lease deals will close at the company's Mount Pleasant Executive Center, the former headquarters of IBM's Latin American operations, by this April.

By John Jordan | Updated on January 18, 2001

MOUNT PLEASANT, NY-Officials with Gale & Wentworth LLC and Insignia/ESG confirm that they are in talks with several companies seeking large blocks of office space at its Mount Pleasant Executive Center property. The center is the former home of IBM’s Latin American division.

Bob Martie, executive vice president of Gale & Wentworth, the owner of the Mount Pleasant Executive Center, was the guest speaker at the Westchester County Board of Realtors Commercial Investment Division meeting on Thursday, Jan. 18. Martie and Insignia/ESG’s Paul Jacobs, the exclusive leasing agent, revealed that the firm is in “serious discussions” with one company that would lease the entire 383,000 sf building.

They added that they are also in negotiations with a number of other tenants that are seeking 75,000 sf of space and up. They refused to divulge the identities of the firms. Martie said that since the Florham Park, NJ-based development firm acquired the building, it has come close to signing large lease transactions only to have the deals fall apart at the eleventh hour. “We’ve had about a handful of near misses,” he admitted.

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