PURCHASE, NY—CBRE’s Stamford, Conn. office has completed a near full-out of the class-A campus, increasing its occupancy rate from 50 to 94 percent.
The 121,500-sq.-ft. office campus is owned by Phoenix Capital Partners LLC and located at 287 Bowman Avenue in Purchase. Leasing activity has totaled 67,000 sq. ft. over the past few years. CBRE’s William V. Cuddy, Jr. and Timothy C. Donohue represented Phoenix Capital Partners in these transactions.
In 2009, ownership appointed a new property management team led by Thomas R. Heaslip, Jr. and began a capital improvement campaign to reposition the building, which included redesigning the lobby and café, updating signage, refurbishing all common areas and bathrooms, renovating the parking garage and adding contemporary artwork throughout the building.
Recent transactions at RiverView at Purchase include software solutions developer Allen Systems Group (ASG) lease of 32,000 sq. ft.; Stop and Shop’s New York Metro Division’s 13,601-sq.-ft. office lease; luxury corporate travel company Altour’s 4,676 sq. ft.; andmanager Platinum Grove Asset Management’s pick-up of 4,441 sq. ft.