Reckson, a division of SL Green Realty Corp., recently signed three office leases totaling 101,082 square feet in Westchester County in a two-tenant deal that brought Xylem Inc. from White Plains to new headquarters at Reckson Executive Park in Rye Brook.
The former water technologies division of ITT Corp., Xylem signed a long-term lease for 67,145 square feet of headquarters space at 1 International Drive on the Reckson office campus. The company has occupied temporary space at 1133 Westchester Ave. since its spinoff in 2011 from ITT, which is headquartered in the same White Plains building.
Federal regulations require Xylem to separate its headquarters from ITT by Oct. 31.
To free up space for the move, Reckson negotiated the relocation of a unit of Verizon Communications Inc. from Rye Brook to a 29,756-square-foot office at 500 Summit Lake Drive in Valhalla, where Verizon already is a tenant. Reckson said that move raises occupancy at the Valhalla office building to 90 percent.
The deal also included Verizon”™s extension of an existing 4,181-square-foot lease at 1 International Drive along with an extension on 10,000 square feet of office space at 120 W. 45th St. in Manhattan.
“This was a very complicated transaction with many moving parts,” John Barnes, senior vice president and managing director of Reckson, said in a press release.
Xylem”™s estimated $11.6 million relocation project will keep 106 high-salaried positions in Westchester. The company has pledged to add 15 positions at its new headquarters.
