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Office sales headed for a $600m year: Reckson in contract for 711 Westchester; EastRidge sees bids.

Publication: Westchester County Business Journal
Publication Date: 26-SEP-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Westchester's office sales market is poised to double this year from the $362 million in properties that changed hands in 2004, thanks to a series of purchases coming to market in recent weeks.

One of those sales is expected to be wrapped up soon. Reckson Associates Realty Corp. is in contract to purchase 711 Westchester Ave. in White Plains, a 120,000-square-foot building owned by partners in W&M Properties.

Salvatore Campofranco, Reckson executive vice president and chief operating officer, would neither confirm nor deny the pending purchase, disclosed by three real estate professionals not connected to the sale and speaking on condition of anonymity.

A W&M executive at deadline had not returned calls seeking comment.

Reckson has been in expansion mode within the metro area. Last July the real...

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