APS Healthcare Picks Westchester County

The decision was revealed by Empire State Development Corp. on Thursday. In connection with the firm's agreement to relocate its headquarters to White Plains, ESD is providing the specialty healthcare company, a $1.2-million working capital grant. The firm's interest in Westchester County came to light in late February when the Westchester County Industrial Development Agency, as exclusively reported on GlobeSt.com, approved a preliminary inducement for the firm if it decided to lease space at 44 S. Broadway, also known locally as the Westchester One building, granting APS Healthcare a minimal sales tax exemption estimated at approximately $80,000.

Commenting on the deal, ESD chairman Pat Foye says, "given our country's current economic climate, it's vital that we work to ensure that our economy thrives. Today's announcement of APS's new corporate headquarters and the creation of an additional 200 jobs to Westchester reaffirms our commitment to promoting job growth throughout the state."

APS Healthcare president Jerry Vaccaro says "APS is a dynamic, rapidly-growing specialty healthcare company, and Westchester County presents an outstanding environment from which to launch our future development. Empire State Development was very effective in promoting the many advantages of headquartering in the Mid-Hudson region, and we are excited to join the community."

Cushman & Wakefield represented both the tenant and landlord in the transaction. Mark Silver, senior director, Rick Donohue, executive director, and Gary Glatter, associate, represented APS. Josh Kuriloff, vice chairman, and Gregory V. Frisoli, senior director, represented Westchester One's owner, an affiliate of Beacon Capital Partners LLC.

While specific terms of the deal were unavailable at press time, Michael Huber, associate director, location incentives group valuation services for Cushman & Wakefield of New Jersey, who represented APS Healthcare at the Westchester County IDA session told GlobeSt.com that once tenant build-outs were complete, the firm could possible move into the space, formerly leased by Ameriquest Mortgage, by as early as the third quarter of this year.

APS Healthcare has offices in 20 states and Puerto Rico and offers customized integrated healthcare solutions across two major product lines--care management and behavioral healthcare services. The company, which was founded in 1992, boasts covering more than 20 million members and has 1,300 employees companywide.