The firm anticipates moving into its new first-floor 11,214-sf space by year-end. W&M Construction will build out the space for the new tenant, company officials say.

"500 Mamaroneck is a Class-A building in a great location; it made sense to us logistically," says Kevin Keane, the firm's managing partner. "We are consolidating two of our existing Westchester offices into this new location so that our accountants and consultants can better serve our clients." The property is a five-story, 285,000-square-foot multi-tenanted office building.

In representing the building owner in the lease negotiations, Newman was assisted by JoAnn B. McGrath, W&M Properties' vice president of leasing and marketing, and Laurie A. Wade, W&M Properties' senior leasing associate. The tenant was represented by John R. McCarthy, a principal of McCarthy O'Callaghan of White Plains.

Also, CBG Investment Advisors, Inc., a subsidiary of CBG Banking Corporation Geneva, has signed a six-year lease for a new regional headquarters at 500 Mamaroneck Ave.

CBG will occupy a 2,837-sf office on the building's second floor. W&M Construction is in charge of building out the space for CBG Investment.

"Lower Westchester is a prime suburban location for bankers and hedge funds because of its nearness to Manhattan," says Scott Benson, president of Tarrytown-based Benson Commercial Realty, which represented CBG. He continued, "CBG chose 500 Mamaroneck because its location provides easy access to Long Island, New Jersey and western Connecticut. The building's amenities and nearly completed renovation program were also factors in the decision."

W&M's Newman was assisted by McGrath and Wade in the lease transaction.

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

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

Leasing
New York
Office