Pentegra Retirement Services has relocated its Westchester headquarters on the Platinum Mile in a move between office parks in The Exchange portfolio of Normandy Real Estate Partners.
The 73-year-old financial services company has leased 29,000 square feet of office space at 701 Westchester Ave. in White Plains, relocating from Normandy”™s 108 Corporate Park Drive in Harrison, where it leased 34,000 square feet of space on two floors.
The deal was announced by Choyce Peterson Inc., the commercial real estate brokerage and consulting firm with offices in Rye Brook and Norwalk. Choyce Peterson principals John P. Hannigan and Alan R. Peterson represented the tenant in lease negotiations, while Brian Carcaterra, senior vice president in the Stamford office of CBRE Group Inc., represented the landlord.
After the firm was approached by Normandy about relocating its headquarters within The Exchange, Pentegra CEO John Pinto said the Choyce Peterson brokers “expertly guided us through a complex negotiation where we were ultimately able to take already competitive average occupancy costs and lower them by 20 percent, while increasing layout efficiency.” The deal also includes future space adjustment rights for Pentegra, he said.
