Four Firms Take Space at Red Oak

WHITE PLAINS-An expansion deal with GHP Office Realty’s parent company Houlihan-Parnes/iCap Realty was the largest transaction at Red Oak Corporate Park. The firm is expanding into 19,243 sf of space on three floors at One West Red Oak. The real estate company increased its presence at the property to accommodate its growing mortgage, management and real estate investment businesses, GHP officials say. Houlihan has been headquartered at the site since its partners bought the properties in 2000.

Ryan Beck and Co., an institutional stock brokerage firm and a wholly owned subsidiary of Bank Atlantic, signed a lease for 8,400 sf of space. The firm, which will be relocating from offices in Scarsdale, was represented by Greg Frisoli of Cushman & Wakefield.

Vision Financial Corp. has expanded its operations from 4,100 sf to 7,500 sf of space on the third floor of the building. Jack Pancaldo of All American Capital represented Vision Financial.

In addition, US Government Services, a Wisconsin-based computer company, has moved into 4,000 sf of leased space on the first floor. Larry Ruggieri of Cushman & Wakefield represented the tenant.

.The lease signings come after Verizon moved out of approximately 17,500 sf of space at the 150,000 sf office park. Verizon still leases about 35,850 sf. The deals also coincide with the completion of what GHP officials termed a “significant capital program” that included new food service and fitness facilities.

“While the improving leasing markets have encouraged institutional owners to cash out, our strategy is different,” says GHP principal Andrew Greenspan. “We are investing in the buildings and improving them for ourselves and our tenants. We are upgrading lobbies, bathrooms, mechanical systems, elevators, art work and common areas.” At the moment, there is approximately 9,000 sf available for lease.