W&M Properties--the owners of Ten Bank--will build-out the space for Fifth Street, which was signed to a ten-year lease. Fifth Street will locate its headquarters on the top floor of this 12-story class A office building starting in July of 2009. Easily accessible from the MetroNorth, the entire building totals 225,000 square feet. According to W&M, the asking rent was in the low $40 per square foot range, but they would not divulge the exact price, nor the terms of the lease.
Fifth Street is a specialty finance company that focuses on financial solutions for middle-market American companies. EVP Jeffrey Newman and senior leasing associate Kimberly Zaccagnino of W&M Properties repped their company in the negotiations. Lawrence Ruggieri of Cushman & Wakefield represented Fifth Street.
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