Sound Federal is relocating its corporate headquarters operations from 5,000 sf of space at 300 Mamaroneck Ave., and 3,000 sf of space at 1019 Park St. in Peekskill, according to Sound Federal Savings Chairman of the Board Bruno J. Gioffre. The bank hopes to take occupancy of its new corporate headquarters at the Parker Corporate Center by the end of this month, Gioffre says. A total of about 70 employees will be relocated to the new White Plains headquarters. The bank eventually will have about 100 employees housed there.

The bank will maintain bank branch operations at its Mamaroneck and Peekskill offices. Sound Federal Savings has a total of 10 branches in Westchester, Rockland and Fairfield counties. Gioffre adds that the bank, which has approximately $770 million in assets, plans to open a new branch in the Newfield Shopping Center in Stamford, CT. in July of this year.

Austin Corporate Properties, Inc., of Rye Brook represented Jack Parker Corp. in the lease deal. Jack Pancaldo of All American Capital in Purchase represented Sound Federal Savings.

"The building ownership is very pleased that Sound Federal has selected their property," says Carl Austin, principal of Austin Corporate Properties. "Parker Corporate Center made a major reinvestment into the property several years ago resulting in virtually a 100% occupancy. We only have 4,300 sf available in the entire 320,000-sf building."

Sound Federal Savings had been on the market for about six months looking for new corporate headquarters space and had conducted a property search from New Rochelle to Stamford before selecting the Parker Corporate Center.

Other major tenants at the Parker complex include: the Leukemia Society of America, which leases about 50,000 sf, Chubb Insurance which occupies 45,000 sf and First Union which has a lease for approximately 40,000 sf of space.