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RYE BROOK, NY-A Greenwich, CT based investment fund manager–the Kenmar Group–is considering relocating its corporate headquarters from Greenwich to 900 King St. here. Preferred Investment Solutions Corp., part of the Kenmar Group that is headquartered at 51 Weaver St. in Greenwich, went before the Westchester County Industrial Development Agency seeking sales and use tax exemptions on tenant improvement costs if the firm were to lease approximately 40,000 sf of space at 900 King.

The property, which is a former IBM facility located right on the New York-Connecticut border, is owned by a partnership of Wafra Investments and Brickman & Associates, both of New York City. Cadbury Schweppes took occupancy in April 2004 of 135,000 sf at the property that was previously vacant for about a decade.

Marc S. Goodman, president and co-founder of the Kenmar Group, confirms that the company is currently studying sites in Fairfield County, CT and Westchester County, NY for its corporate headquarters. The group also includes Kenmar Securities, Inc., Kenmar Global Investment Management Inc., Kenmar Investment Adviser Corp. and MKL Limited. The Kenmar Group is an investment fund manager specializing in alternative investments, which manages approximately $1.6 billion for institutional and private investors worldwide.

Goodman says the. building is “under serious consideration” and at present is the only property in New York State that is under review. He adds that the company is also studying some sites in Fairfield County as well. A decision on the firm’s corporate headquarters space could come in the next few weeks, he says.

The firm is being represented by CB Richard Ellis, which had no comment on the possible deal. The firm was represented at the Westchester County IDA meeting by the White Plains law firm DelBello, Donnellan, Weingarten, Tartaglia, Wise & Wiederkehr LLP.

Christopher O’Callaghan of Albert B. Ashforth, Inc. of Stamford, CT the exclusive leasing agent for 900 King, also had no comment on the possible Kenmar Group deal. However, he says that there are a number of companies currently considering the 66,000 sf of vacant space remaining at the 201,460- sf building.

“The activity at the building ever since Cadbury moved into the building in April of last year has been terrific,” he says. O’Callaghan adds that if negotiations are successful with several prospective tenants, the building could be fully leased by this summer.

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