An affiliate of White Plains-based GHP Office Realty of White Plains has acquired 145 Huguenot St., a 300,000-sf office building located in downtown New Rochelle nearby Exit 16 of the New England Thruway (I-95).

GHP Huguenot LLC purchased the building from The Galesi Group of Albany, NY. HK Group of Westport, CT., represented the seller in the transaction. While GHP Office Realty officials offered no details on the transaction, Houlihan-Parnes/iCap Realty Advisors LLC recently reported that it placed a $14-million first mortgage loan in connection with GHP's purchase of 145 Huguenot St.

"145 Huguenot St. fits in exactly with what we are doing. It is a multi-tenanted building that is essentially fully leased," says Andrew Greenspan, a principal of GHP Office Realty. "It is near by I-95 and the transportation center and close by New Roc City and Avalon's luxury apartment complex."

He added that GHP is currently in negotiations with a number of potential tenants, including several New York City firms seeking to relocate out of Manhattan. If those deals close, the building would be 100% leased, he notes. Tenants at 145 Huguenot St. include the State of New York, Westchester County, Trans-Credit of America, Weidenbach-Brown, Advent Software, SW Wasserman and several law firms.

GHP Office Realty plans to institute a multi-million dollar capital improvement program at the building that will include the lobby, building entrances, common areas and landscaping. In addition, some space on the ground floor level of the building will be converted to retail use.

GHP Office Realty, which is less than three years old, has acquired approximately two million square feet of commercial space in five counties in the New York metropolitan area (Bergen County, N.J., Fairfield County, CT., Rockland, Westchester and Nassau). The 145 Huguenot St. deal is the second purchase GHP has made this year. In February 2002, GHP Office Realty acquired 12 Water St., a 45,000-sf office building in White Plains.

Instant Insights /

GHP Affiliate Buys 300,000-SF New Rochelle Building

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