Valhalla-based Ginsburg Development Companies (GDC) says that it has completed renovations at City Square located in downtown White Plains and has brought on board real estate brokerage RM Friedland (RMF) to handle leasing of office space in the complex.
Ginsburg describes the office space elements of City Square as including the 300,000 square foot 15-story Class A building at 50 Main St. The building is 15-stories and offers spaces from 1,500 square feet to a full floor of 23,000 square feet. The top three floors of 1-11 Martine Ave., also part of City Square, feature 60,000 square feet of office space with an express elevator and a private outdoor terrace on the 12th floor.
Martin Ginsburg, founder and principal of Ginsburg Development, said, “Our $94 million investment in City Square reflects a strong belief in the long-term health and viability of the White Plains office market, because only the most powerful of magnets with the right mix of flexible space, unmatched amenities and convenience will attract employees back to the office.”
Among the features being promoted at City Square are a modernized cafeteria with outdoor dining, a state-of-the-art fitness center, an art gallery lounge, a club game room, a lecture hall and training room, a private dining and conference room, an executive board room, underground parking and a dog-friendly two-acre park with a putting green and Bocci Court.
Chris O”™Callaghan, RMF”™s office managing director, will lead the team responsible for leasing the office space at City Square that includes Robert Taylor, Jillian Reiner and Reed Waggoner.
Sarah Jones-Maturo, president of RMF, said, “We look forward to working closely with GDC on City Square”™s exciting relaunch.”
RMF”™s report on second quarter 2022 office activity in Westchester said that the rents in the White Plains central business district market remained very flat quarter over quarter, a trend RMF expected to continue.
RMF reported that notable renewal transactions in White Plains for the second quarter of 2022 included Heineken”™s renewal of approximately 50,000 square feet at 360 Hamilton Ave., and Byram Health”™s renewal of approximately 29,000 square feet at 120 Bloomingdale Ave. Other leases included Greenberg Traurig relocating 20,000 square feet from 445 Hamilton Ave. to One North Lexington Ave., and Gelfand Rennert relocating approximately 14,000 square feet from 360 Hamilton Ave. to 445 Hamilton Ave.
