ITT Close To Signing 100,000-SF-Plus Lease

WHITE PLAINS-The Westchester County Industrial Development Agency induced an application by ITT Corp. on Thursday in connection with its pending lease at 1133 Westchester Ave., a 700,000-sf former IBM office building owned by RPW Group in White Plains. If the deal is finalized, the defense electronics and services company will relocate its global headquarters from 4 West Red Oak Lane here to the property.

The IDA will provide benefits in excess of $562,000 in sales tax exemptions in connection with the renovation and equipping of 98,000 sf of space at 1133 Westchester Ave., according to the company’s IDA filing. Sources close to the deal say that the lease, when finalized, will be in excess of 100,000 sf and will therefore result in the firm doubling its current global headquarters operations in Westchester.