GHP Office Realty acquires 375 Executive Blvd., an 81,500 s/f flex bldg. in Elmsford, NY
Elmsford, NY — GHP Office Realty, LLC announced its acquisition of the 81,500 s/f property consisting of 75,000 s/f of 16’ high, 40-foot column spacing warehouse space with four loading docks and two drive-in doors and 6,500 s/f of office space. The building is situated in the 88-acre Cross Westchester Executive Park. The GHP acquisition team was led by Andrew Greenspan, principal of GHP and Jamie Schwartz, executive vice president. Greenspan said, “This is the second flex building we have acquired in the last two years. We were attracted to the deal because there is a dearth of flex space in Westchester County and especially on the west side of the County. The County of Westchester will lease back 23,000 s/f from us leaving 58,500 s/f available for lease to warehouse, flex, medical, laboratory, technology and/or office users looking to be in the Elmsford area close to I-287, I-87 and The Sprain Brook Parkway.” Greenspan continued, “We are planning to invest several million dollars into the building to bring it up to date and make it more energy efficient, including installing a new roof.” Adam Rodriguez, Esq., Director of Real Estate, Office of the County Executive, and David L. Vutera, Esq., Senior Assistant County Attorney represented Westchester County in the transaction. Steven C. Hirsch, Esq. of Hirsch & Gibaldi LLP provided legal representation and Gerrard F. Canavan of Stewart Title Company provided title services for GHP.