More retailers for Ridge Hill
Developer Forest City Ratner Cos. has six new tenants for the Yonkers mixed-use development Ridge Hill, including clothier H&M, Gap, Old Navy, Republic of Couture, Sur La Table and Desigual, an international clothing and accessories chain for men, women and children. The six retailers join anchor tenants Whole Foods, Lord & Taylor, L.L. Bean, Showcase Cinema De Lux, Dick”™s Sporting Goods and REI.
Ridge Hill has 160,000 square feet of designated office space in the 1.2-million-square-foot development; Westmed Medical Group leased more than 83,000 square feet for medical office usage.
Signature Bank opens stock market
Signature Bank”™s President and CEO Joseph J. DePaolo and the bank”™s management team presided over the opening bell of the NASDAQ in Times Square May 2 to commemorate the bank”™s 10th anniversary.
Signature Bank”™s assets have grown to $12.4 billion and deposits have reached more than $10 billion since it opened in 2001 with an initial investment of $43 million. Signature Bank shares have been traded on the NASDAQ since 2004.
The full-service, member FDIC commercial bank has 24 offices with locations in White Plains and New Rochelle.
Westchester firm expands in wine country
White Plains-based Seavest Healthcare Properties, a real estate investment firm, has acquired for $11.2 million the 65,000-square-foot, two-building Napa Valley Medical Center in Napa, Calif. SKS Investments in San Francisco will manage the 3-acre property.
The site is adjacent to St. Joseph Health System”™s Queen of the Valley Medical Center, which leases about 35 percent of the Napa Valley Medical Center.
Other property services include: oncology, family medicine, orthopedics, pediatric and occupational therapy, with a total occupancy of approximately 85 percent.
Seavest plans to spend about $2.5 million on improvements to the buildings.
Napa Valley Medical Center was Seavest”™s fourth acquisition in recent months and was bought from a trust servicer that went through a foreclosure early last year. It has more than 2 million square feet of medical office buildings and outpatient facilities in 15 states.
Sales tax revenue climbs
Westchester County budget officials said sales tax revenue increased 8.67 percent from last April until now.
According to Budget and Appropriations Committee figures, $35,644, 226 was collected, up nearly $3 million.
This news follows the 2.2 percent reduction in property taxes enacted by the county and a $28.5-million reduction in spending that reduced the size of the county workforce by 10 percent.
