ITT has been in lease discussions with RPW Group for months forthe space at the 630,000-sf former IBM building. The 15-year leasedeal was signed on Friday, Dec. 14. Cushman & Wakefield'ssenior director Glenn Walsh represented RPW Group in thetransaction, while EVP Bob Sheehy and senior director Steve Bakerof C&W represented ITT.

"For more than 100 years, ITT and its businesses have been abedrock of the New York economy," Gov. Eliot Spitzer says in aprepared release. "The company's decision to expand itsheadquarters in White Plains reaffirms its commitment to New Yorkand sends a powerful signal about its faith in our efforts toimprove the state's business climate."

Steve Loranger, ITT chairman, president and CEO, who did notattend the press conference due to a company board of directorsmeeting, issued a statement saying, "we are pleased to have found anew home for our world headquarters here in White Plains and toremain in New York. We've got a rich history in the state and owe alot of our success to the very talented people who live and workhere."