SL Green Realty Corp. has sold 520 White Plains Road, a 180,000-square-foot Class A office building in the Tarrytown Corporate Center, to Signature Acquisitions LLC, a New Jersey-based real estate company, for $21 million.
The deal was reported by CBRE Group Inc. CBRE”™s tristate Institutional Properties team of Jeffrey Dunne, Steven Bardsley and Alex Riccio represented the seller.
The building is 96 percent leased with an average lease term of nearly 6 years, according to CBRE. Tenants anchoring the property include First Niagara Bank, Clarfeld Financial, Westcon Group, HQ Global and NY State United Teachers.
Dunne in the announcement said the office building”™s location near Interstates 87 and 287, Route 9 and the Tappan Zee Bridge “has attracted a diverse tenant base with long-term leases that should provide Signature Acquisitions with dependable income for years to come.”
The Tarrytown office investor earlier this year paid $87 million for an eight-building, nearly 823,000-square-foot office portfolio in Cranford and Clark, New Jersey, sold by Mack-Cali Realty Corp. CBRE, whose Institutional Properties team also brokered that deal, said Signature would move its headquarters to one of the properties.
