Westchester, NY - June 30, 2010 — Normandy Real Estate Partners, one of the largest real estate developers, owners and operators in the Boston to Washington, D.C. corridor, today announced leasing volume over the past 12 months for its Westchester portfolio, which includes the company’s prestigious The Exchange office complex, exceeds 325,150 sf. That leasing momentum has carried over into the first quarter of 2010, with more than 40,000 sf having been leased/renewed – including 20,000 sf of new leases. Contributing to the strong leasing volume, Normandy has made significant building improvements to buildings in its Westchester portfolio. In fact, Normandy has been recognized by the Building Owners and Managers Association of Westchester County (BOMA) for the company’s contributions to the Westchester economy.

 

“Two essentials of the Normandy culture -- listening to tenants’ needs and working hard to offer them the most desirable spaces -- are the key components to attracting and retaining the superior quality tenants who occupy our Westchester buildings,” said Paul Teti, Vice President, Normandy Real Estate Partners. “In an economy that has seen an overall decline in lease activity, these leasing numbers speak volumes. The recognition we received from the Building Owners and Managers Association of Westchester County for our contributions to the local economy is a great honor – and we’re extremely humbled by their award.”

 

Brian Carcaterra, Principal, Newmark Knight Frank, added, “From law firms to financial services companies, Normandy has consistently attracted Class A tenants to their Westchester portfolio. The leasing activity over the past year and new leases so far in 2010 illustrate the great properties Normandy offers and their flexibility in leasing commitments. With such a large number of renewals and expansions, it’s clear that Normandy tenants remain satisfied with their experience throughout their lease.”

 

•     Tenant: A world class financial services company

•     Lease: 8,142 sf

•     Broker: Brian Carcaterra of Newmark Knight Frank

•     Tenant: Bank of America

•     Lease: 4,311 sf

•     Broker: John Crozier and John Stoddard of Jones Lang LaSalle

 

•     Tenant: Ansa Assuncao, LLP

•     Lease: 4,996 sf

•     Broker: Timothy Donohue of CB Richard Ellis

 

•     Tenant: 360 Global Capital LLC

•     Lease: 2,289 sf

•     Broker: Brian Carcaterra of Newmark Knight Frank

 

 

•     Tenant: MAM USA

•     Lease: Expansion to 5,800 sf and extension

 

•     Tenant: Pollack & McGuire LLP

•     Lease: 4,313 sf

 

•     Tenant: Hinman Howard & Kattell LLP

•     Lease: 3,530 sf

 

•     Tenant: Rose International

•     1,757 sf

•     Broker: Joseph Caruso

 

•     Tenant: National Health Promotions Associates

•     Lease: 10,850 sf

•     Broker: Nick Deluca and Mark Jacobs of Signature Group

•     Tenant: Opus Advisory Group, LLC

•     Lease: 6,583 sf

•     Broker: Chris O’Callaghan and Larry Ruggierri of Cushman & Wakefield

•     Tenant: Valerie Wilson Travel

•     Lease: 5,800 sf expansion and extension

•     Broker: Joe Grotto, Jr of Cassidy Turley

 

Significant upgrades to many of Normandy’s Westchester properties at The Exchange include a new sundry shop and a new flower shop at 108 Corporate Park Drive, common area corridor improvements at 709 and 1025 Westchester Avenue, and HVAC (heating, ventilation and air conditioning) enhancements at 2700 Westchester Avenue, 106 and 108 Corporate Park Drive. Additionally, a full service café was recently completed at 2700 Westchester Avenue; landscaping and mechanical infrastructure upgrades have been included at 707 and 709 Westchester Avenue and bathrooms on the fourth floor of 925 Westchester Avenue have been newly renovated.

 

On April 29^th, 200 members of Westchester County’s commercial real estate industry gathered to honor Normandy Real Estate Partners at the 19^th Annual Hall of Honor Awards Dinner of the Building Owners and Managers Association of Westchester County (BOMA), at which  Normandy was recognized for the firm’s contributions to the Westchester economy.

 

Normandy Real Estate Partners is a vertically-integrated real estate private equity fund manager headquartered in Morristown, NJ with offices in Boston, New York City, and Washington DC. Normandy currently manages a series of discretionary real estate funds totaling approximately $1.0 billion of equity commitments. Normandy’s existing portfolio includes 14 million square feet of commercial assets, four hotels and numerous land development sites. Normandy targets value added real estate investments primarily in the Northeast and Mid-Atlantic markets of Boston, Metro New York City, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements. For more information visit www.normandyrealty.com.