CB Richard Ellis Named Agent at Ridge Hill Village

CB Richard Ellis VP Al Gutierrez will oversee the marketing effort for the office property. Forest City Ratner has been designated the developer of Ridge Hill Village by the Ridge Hill Development Corp. and is currently seeking approvals from the City of Yonkers for the development.

The Ridge Hill Village development, located off exit 6A of Interstate 87, is expected to eventually total 1.3 million sf of retail and entertainment space in addition to 160,000 sf of reconfigured office space, approximately 1,000 residential units and a hotel and conference center. The entire project is located on an 81.4-acre parcel that has been designated a New York State Enterprise Zone.

CBRE will act as leasing agent for the 245,000-sf existing office building, formerly occupied by Lockheed Martin, which has approximately 60,000 sf currently available. Forest City Ratner plans to make significant renovations to the building, including a redesigned lobby, concierge and new building systems, CBRE officials say. Upon completion, the ground floor of the building will be retail with approximately 160,000 sf of office space remaining on the second and third floors. Currently, BAE Systems is the largest tenant at the complex.

Recently, Rakow Commercial Realty Group of White Plains was named exclusive leasing agent by Cohen Brothers Realty Corp. of New York City for its 333 Westchester Ave. complex in White Plains. Rakow is marketing the remaining 100,000 sf of space available at the former Kraft Foods property that totals approximately 600,000 sf of office space.

Another office assignment announced recently was Newmark's selection by Kevin Wang Realty Advisors to market its 55 Post Rd. West office building in Westport, CT. "Though only on the market for a little more than a month, the property is already generating a significant amount of tenant interest," says John Goodkind, managing principal of Newmark. In fact, he adds that several leases are out for signature at the 36,000-sf building, but no deals have closed to date.