Andrew Greenspan, principal of GHP Office Realty of WhitePlains, says, "The building has been vacant for some time and is inpoor condition." Improvements planned by the ownership include anew energy-efficient roof, mechanical systems and curtail wall. GHPwill also make a contribution to the tenant improvements to beundertaken by Fordham University to convert the space to classroomuse, he adds. GHP Office Purchasing LLC is an entity controlled byGHP Office Realty and locally based Benerofe Properties.

GHP is currently before the Harrison Town Board seeking aclarification in the property's zoning that would allow forhigher-educational use at the class B building. Fordham University,which has put its 25-acre Marymount Collegecampus in Tarrytown on the market for sale, had looked at 32 sitesthroughout Westchester County before deciding on the Harrisonbuilding. GHP Office Realty's parent, Houlihan-Parnes iCap Realty,served as Fordham's tenant representative in its search for newspace.

The 400 Westchester Ave. building was part of the purchase of anearly 1.7 million-sf portfolio of Verizon Communicationsindustrial and office space in eight states by GHP OfficePurchasing in June of this year. Local sources valued the deal atapproximately $150 million.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.