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Home Premium Content

Vacant office/flex building sells in White Plains

John Golden by John Golden
August 22, 2014
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Principals of two Westchester real estate companies have closed on their third joint-venture commercial property purchase in the last 18 months.

RM MAG Westmore L.L.C. paid $800,000 to acquire a vacant six-story, 50,000-square-foot office/flex building at 121 Westmoreland Ave. The new owner is a partnership of principals of Robert Martin Co. L.L.C. in Elmsford and MAG Real Estate Advisors Inc. in Chappaqua.

Jeremy Frank, director of acquisitions at Robert Martin Co., in a press release said the owners are considering “a wide variety of adaptive reuses” for the property, which is about a half-mile from the White Plains Metro-North Railroad station.

Michael Grossman, principal of MAG Real Estate Advisors, noted the building features loft-type space with high ceilings, efficient floor plates and loading accessibility that, combined with its location, “make it appealing for a variety of uses, including office, showroom, studio, storage and multifamily.”

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John Golden

John Golden

As managing editor of the Business Journals, John Golden directs news coverage of Westchester and Fairfield counties and the Hudson Valley region. He was an award-winning upstate columnist and feature writer before joining the Business Journal in 2007. He is the author of “Northern Drift: Sketches on the New York Frontier,” a collection of his regional journalism.

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