X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HAWTHORNE, NY-IBM has signed the largest lease renewal so far this year in Westchester County by agreeing to new deals totaling 292,304 sf at 17 and 19 Skyline Dr., part of Mack-Cali Realty Corp.’s Mid-Westchester Executive Park complex here. Big Blue’s Thomas J. Watson Research Center division occupies space in both buildings.

IBM signed a five-year lease for 248,399 sf of space, which comprises the entire 19 Skyline Dr. building. The Armonk-based firm also signed a new five-year lease for 43,905 sf at 17 Skyline Dr. Previously, IBM had occupied the entire 85,000-sf building. Sources close to the deal say that IBM plans to eventually relocate some operations at 17 Skyline Dr. to company-owned space in Westchester County. The T.J. Watson Research Center is headquartered in Yorktown Heights.

Patrick Murphy, Carl Eriksen and Linda Dow of CB Richard Ellis represented IBM, while Mack-Cali executive vice president Michael A. Grossman, represented the building owner. IBM became the sole tenant of 19 Skyline Dr. in 1985 shortly after construction on the building was completed. The 17 Skyline Dr. building was built-to-suit for IBM in 1989.

Grossman credits Mack-Cali’s operations staff at the Mid-Westchester Executive Park for providing the critical services to IBM over the years that helped secure IBM’s renewed space commitments. He says that the space at 17 and 19 Skyline are highly specialized build-outs that meet IBM’s specific requirements, including significant bandwidth capacity and specialized computer space.

A little less than half of the 17 Skyline Dr. building that had previously been leased by IBM is now on the market, Grossman notes. “We are showing it and we do have some interested parties in it,” he adds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.