Verizon Signs 100,000-SF Deal at GHP Property

Locally based GHP Office Realty, which owns the building with partner Benerofe Properties, signed a five-year lease with a five-year option with Verizon for 99,736 sf, says James Houlihan, a partner in GHP Office Realty. Last year, a partnership controlled by GHP and Benerofe purchased 2.3 million sf of industrial and office space in 10 states from Verizon. The 10 County Center Rd. property was one of the assets that traded in that deal.

Houlihan tells GlobeSt.com that Verizon originally planned to vacate the building and had scheduled a move-out by year's end 2008. However, the firm had a change of heart and decided to stay at the County Center Road property. Verizon plans to use the space for its new FIOS services operations, as well as for customer support, call center and staff training. The office will house a total of 500 Verizon employees, GHP officials say.

"Verizon is one of the world's leading technology companies. This lease at County Center represents a major belief and major commitment to Westchester County," says Andrew Greenspan, a GHP Office Realty principal who represented the building owner and Verizon in the deal. "In addition to the FIOS network, the owners of the building recently installed a state of the art cooling system that relies on geothermal technology. The building also serves as one of Westchester's main telephone switches for the 914 area code."

In another deal at 10 County Center, Westchester County leased a total of 17,460 sf for its Department of Social Services, which has since relocated to the third floor of the building from offices on Grand Street in White Plains. Salvatore Carrera, director of the office of economic development for Westchester County, represented the county in the deal. No lease terms were provided.

At present, there is approximately 91,000 sf available on the second and third floors of the building. GHP's Houlihan says that the firm has had some discussions with interested tenants at the property, but does not have any finalized deals to announce.