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Westchester Brokers Convinced NYC Firms Will Relocate

WHITE PLAINS-Area commercial office property owners and brokers agree that Morgan Stanley's decision to buy the Chevron/Texaco property and the post-Sept. 11 trend towards decentralization will bring some New York City relocations to Westchester County later this year.

By John Jordan | Updated on March 18, 2002

WHITE PLAINS-While not predicting a deal as large as the pending sale of the Chevron/Texaco headquarters property to Morgan Stanley in Harrison, which is expected to close as early as this Tuesday, a panel of area brokers and property owners contend that Westchester should see an increase in corporate relocation business from Manhattan this year.

However, while some believe another large deal could be consummated with a New York City-based firm, others contend that the commercial office sector in Westchester County should be focusing on the mid-sized company in Manhattan in their marketing efforts.

“Over the last 90 days we have seen a flurry of activity (from New York City-based firms),” said Salvatore Campofranco, senior vice president and managing director of the Westchester division of Reckson Associates Realty Corp. He adds that most of the activity thus far has been with companies interested in 30,000 sf of space or more in Westchester.

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