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WHITE PLAINS, NY-The 150 Grand St. office building in downtown White Plains will be undergoing a major renovation, according to the building owner–the Lightstone Group of Lakewood, N.J.

The firm reports that the retrofitting program at the 84,000-sf, six-story building will include an all new granite façade, new exterior sidewalks and entryway lined with brick pavers leading to a high-end glass door entrance. The lobby will be completely renovated to include a new granite floor, new wall coverings, recessed lighting and a new building directory. Elevator shells will be replaced and upgraded mechanically to increase operating speed, company officials say. A new fitness center will be an addition to the facility, as well as high-speed Internet connectivity, indoor parking and a full-time doorman. The facility will also boast a completely furnished outdoor courtyard, for tenant use, they add.

Lightstone Group officials did not divulge the cost of the renovation program for the property, its only real estate holding in Westchester County. The firm reports it has hired Sterling Engineering of Reading, PA. to lead the building enhancement program, which is expected to be completed sometime next month.

Frank Duran, director of Commercial Leasing for Lightstone, says, “We are pleased to announce the commencement of the facility enhancement program at 150 Grand St. When completed, this quality building will be one of the finest office environments in the class B White Plains market, which is currently experiencing a significant increase in activity. We are excited to present this renovated facility to the marketplace and expand our presence in the region and the City of White Plains.”

Duran adds that the company is currently in negotiations with several prospective tenants for a 12,000-sf requirement and a 2,800 sf availability at the building. If and when those transactions close, the facility will be approximately 95% leased. Major tenants at the building include departments of Westchester County and New York State as well as Warehouse Management Systems and the law firm of Greenspan & Greenspan.

The Lightstone Group, which acquired the building in 1998, currently owns and or manages a portfolio of 15,000 apartments as well as office, industrial and retail properties totaling more than eight million square feet in 16 states. The firm employs more than 400 workers and maintains offices in Maryland, Florida, Virginia and California. In addition, the company says it has embarked on an aggressive acquisition and expansion program throughout the United States.

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