Newmark Capital, a division of Newmark & Company Real Estate Inc., notes that the deal closed recently on the 136,000-sf office park, located at 555 Pleasantville Rd.
The seller, Briarcliff Manor LLC, a partnership of Blackacre Capital and Walden Partners, was represented in the transaction by James D. Kuhn, Newmark's president, along with David Noonan and Jennifer Schwartzman of the firm's New York headquarters and John D. Goodkind of its Westchester/Connecticut office.
RPW Group owns commercial office properties in Westchester County, including 120 Bloomingdale Road, a 156,000 sf office building in White Plains.
Newmark was named exclusive leasing agent for the Briarcliff Corporate Campus property earlier this year. Noonan notes, "This project is a good example of coordination between offices and disciplines. Our investment sales team targeted value-added investors while the leasing team concluded several transactions that demonstrated the property's ability to compete in the market and created momentum." Goodkind adds, "The transaction was a good deal for everybody involved."
The most recent lease transaction at the Briarcliff Corporate Campus was reported in July with the 7,500-sf lease of Duane, Morris & Heckscher. The law firm, which reported plans to relocate from its regional offices in Pleasantville, joined tenants at the facility that include USI Northeast Inc., engineering firm Chas. H. Sells, Digitech Computer, Uniglobe Kisco and Saw Mill Capital LLC. The property is approximately 60% leased.
The complex, which sits on 15.3 acres, was built in 1985 by Frank B. Hall Insurance Company as its corporate headquarters. The Briarcliff Corporate Campus comprises two buildings, totaling 115,400 sf of space, and a 12,800-sf conference center. The complex also includes a Tudor-style manor house built by John D. Rockefeller in 1927.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
