MetLife put the property on the market for sale in July 2002only to abruptly take the 712,131-sf, twin tower complex at OneNorth Broadway and 445 Hamilton Ave., off the market less than ayear later.Executive vice president Andrew Merin and seniordirector Patrick Colwell of Cushman & Wakefield's MetropolitanArea Financial Services Group are charged with the marketing of theproperty and the procurement of a purchaser. The property iscurrently 73% leased and C&W officials are hopeful it will beleased up by year's end.

"This investment offering provides an unprecedented opportunityto acquire a class A project located in the core of the boomingWhite Plains Central Business District," says Colwell. "We expectto attract multiple offers from regional and nationalinvestors."

Merin adds, "The property provides the potential investor withan opportunity to add value by leasing the remaining availablespace in the complex and capitalize on the $4.75 million ofbuilding upgrades completed this year."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.