WHITE PLAINS, NY-Although not officially announced by the company or Westchester County, Xylem Inc., a spinoff of ITT Corp., is in negotiations to lease 50,000 sf or more at 1 International Drive in Rye Brook, NY.
Representatives of the firm, which currently has operations at 1133 Westchester Ave. in White Plains, were at a meeting of the Westchester County Industrial Development Agency Thursday morning. At the session, IDA Director Eileen Mildenberger told IDA Board Directors Xylem has decided to remain in Westchester County and was in the process of signing at lease at 1 International Drive, a 90,000-sf office building owned by Reckson, a division of SL Green Realty. Those unnamed representatives said an announcement would be coming regarding the lease shortly.
The firm, which was launched in October 2011, had previously been before the IDA late last year and stated in documents filed with the agency that it was looking for approximately 50,000 sf of office space and has been considering properties in Westchester and Connecticut. The firm has filed an application for incentives with the Westchester County IDA and was believed to be seeking incentives from the State of Connecticut.
Xylem is a global water technology provider that posted $3.8 billion in revenues in 2011 and employs 12,500 employees worldwide. The company states that it has more than 930 workers throughout New York State. The company has retained William Cuddy, executive vice president of CBRE as its broker and Thomas Stringer, principal of Ryan, LLC of New York City as its site selection consultant.
The company stated in its filings with the IDA that federal regulations require that after its spinoff from ITT, the company’s headquarters be separate from ITT Corp., which is also based at the 1133 Westchester Ave. property owned by RPW Group.