Deals & Deeds - Westfair Communications

Transit-oriented development taking hold

When the national development firm VHB acquired the White Plains-based development consulting firm Saccardi and Schiff Inc. last fall and looked to move its offices, the top priority was being at the center of activity.

That is largely why VHB Engineering, Surveying and Landscape Architecture P.C. chose 50 Main St. in White Plains and moved in last week. Located just one block from the White Plains Metro-North station, the site falls in line with the move toward transit-oriented developments in Westchester.

At 9,000 square feet, the new office is nearly double the size of the former Saccardi and Schiff offices, which were at 445 Hamilton Ave.

“Our new office will allow us to serve our clients in the public and private sectors throughout Westchester,” said Tom Lucivero, VHB senior principal and northeast regional manager, in a company release.

Notable VHB public and private business clients include Westchester County, the city of Yonkers and PepsiCo Inc.

Freidland 001 — Bob Friedland, left, president and founder of NAI Friedland Realty with Tony Lembeck, CEO of NAI Friedland Realty.

Retail on the rise

A number of Westchester development and brokerage firms have seen several trends in the commercial market, including a significant boost in retail sales and leases, the beginning of repurposing efforts at office parks along the I-287 corridor and a huge interest in creating transit-oriented developments around the county”™s Metro-North stations.

“We don”™t see offices as the current trend,” said Robert Roth, senior associate at John Meyer Consulting P.C. in Armonk. Addressing the hype surrounding transit-oriented developments, he said that is the emerging trend.

“They (the MTA) want to get interested developers to come in and make a pitch,” Roth said, adding that developers are trying to attract young people who can live in Westchester and still have easy access to New York City.

Developments in the retail sector have picked up, but not necessarily in the form of future shopping centers, said James Ryan, also a senior associate at John Meyer. “I wouldn”™t be surprised if you start to see some retail on Westchester Avenue too,” he said.

At NAI Friedland Realty Inc. in Yonkers, brokers are seeing an increase in retail activity, said CEO Tony Lembeck

“The retail brokers are busy, and that”™s encouraging,” he said. “And not just national companies, but a lot of mom-and-pop companies opening new stores.”

He said the interest from retailers may signal the return of consumer spending.

“If the retail market believes that it”™s time to open new stores ”¦ they must have a sense that people are ready to spend again,” he said. “We don”™t see the consumer confidence yet, but I see the retailers looking.”

Bob Friedland, president and founder of NAI Friedland Realty, said the commercial market currently favors smaller properties and deals, pointing to that as one of the primary reasons for the 6 million square feet of vacant office space reported by various county organizations.

“There are more smaller deals to make than larger deals,” he said, adding that Westchester caters more to smaller-occupancy businesses.

Commercial market update

In New Rochelle, JSJP Land Corp. bought a 4,000-square-foot warehouse at 27 Bartels Place for $545,000. The New York Commercial Realty Group in Harrison represented the seller and procured the buyer.

Also in New Rochelle, Wilson Narvaez bought a 5,000-square-foot combined retail and office building and parking spaces at 768 Main St. for $617,000. The New York Commercial Realty Group represented the seller and Vito Cangialosi of Julia B. Fee Sotheby”™s Realty represented the buyer.

In Harrison, Casa Blanca Tile and Stone Inc. signed a long-term lease for a 7,800-square-foot retail site at 400 Halstead Ave. The New York Commercial Realty Group represented the landlord and David Richman of Rakow Commercial Realty Group represented the tenant.

In White Plains, the Westchester Chapel Community Church signed a long-term lease for a 10,000-square-foot space at 10 County Center Road. The New York Commercial Realty Group was the sole broker in the agreement.

In Rye, Rye Physical Therapy and Rehabilitation leased a 1,904-square-foot space at 411 Theodore Fremd Ave. The New York Commercial Realty Group represented the tenant and Matt Lisk of Cushman and Wakefield Inc. represented the landlord.