Jennie Morgan, a spokesperson for MetLife, confirms that the insurer has retained Eastdil Realty of New York City as the sales agent for White Plains Plaza in downtown White Plains. The property consists of One North Broadway, a building of more than 395,000 sf that is fully leased and 445 Hamilton Ave., which has 320,688-sf of office space. That building is considerably vacant, although MetLife occupies approximately 52,000 sf of space there. The complex was at one time home to Prodigy Inc., which occupied well in excess of 400,000 sf of space at the complex.

Officials with Eastdil Realty and McCarthy O'Callaghan Co., the exclusive leasing agent at White Plains Plaza, had no comment on reports that White Plains Plaza was about to be marketed for sale.

MetLife's Morgan says that the company decided to put the property on the market for sale as part of its annual diversification program of its equity portfolio.

Also in downtown White Plains, Reckson has put its 235 Main St., and 245 Main St., office properties on the market for sale. Salvatore Campofranco, senior vice president and managing director for Reckson's Westchester operations, says that the firm is under contract for the two buildings and hopes to close on the deal by mid-July. The 235 Main St. building totals approximately 85,000 sf of space, while 245 Main St., features more than 75,000-sf. The complex is located nearby White Plains City Hall and across the street from the "City Center at White Plains" development being built by Cappelli Enterprises of Valhalla.

Campofranco notes that the two buildings, which were purchased when the firm entered the Westchester market with its acquisition of Halpern Enterprises in 1995, does not fit its preferred portfolio profile. For the past number of years, the company has shed smaller office buildings similar to 235 and 245 Main St. from its portfolio. While he would not reveal the identity of the prospective buyer, he characterized the firm as "a private local player."

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.

New York
Office