"We are starting to look to branch out into other locations in the New York metro area," says Kraig Silver, executive vice president of Treeline, which is headquartered in Garden City, NY. Silver adds that the firm is in talks with property owners in the tri-state area, but at present has no firm deals to report.
In Westchester County, the company owns 2 Gannett Dr., a 106,000-sf office building that is currently 80% leased and 4 Gannett Dr., a 108,000-sf building that is 100% leased.
Treeline has also unveiled two new leases at 2 Gannett. McWhirter Direct Marketing, a White Plains-based marketing company represented by Al Gutierrez of CB Richard Ellis, leased approximately 3,000 square feet of space for its new headquarters, and Riverfront Medical Services Inc. has taken about the same amount in a deal brokered by Sandy Lefkowitz of Prudential Rand Realty.
The two other transactions at 2 Gannett Dr. were both sizable renewals. Insurance firm Arthur Gallagher & Co., which was represented by Craig Lemie of Julien J. Studley, renewed its lease for 22,800 sf and Dorian Drake International, resigned for 11,378 feet. Chris O'Callaghan of McCarthy, O'Callaghan Co. Inc., represented Dorian Drake. Treeline's Silver represented the building owner in both renewals.
Silver notes that Treeline is in negotiations with a prospective tenant for 12,000 sf at 2 Gannett, which would leave only approximately 8,200 sf available at the property. At 4 Gannett, Direct Response, an insurance firm, has 30,000 sf of its space on the sublease market.
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