WHITE PLAINS, NY — Property Resources Corporation, a 40-plus year-old multi-faceted real estate services provider, has expanded its space at Ten Bank Street in White Plains, N.Y., according to Jeffrey H. Newman, executive vice president of Malkin Properties, the marketing and managing agent for the building.
A Ten Bank Street tenant since 2002, Property Resources has leased an additional 1,737 square feet on the fifth floor, bringing its total occupancy to 5,894 square feet. Malkin Construction will immediately begin working on the expansion space.
“Malkin Properties’ management couldn’t have been more accommodating when we approached them about expanding our space,” says John Chatzky, vice president of Property Resources. “With its proximity to the White Plains train station, convenient parking and hands-on management, Ten Bank Street has provided an advantageous and vibrant atmosphere for our business since we arrived, and we hope to remain here for many years to come.”
Property Resources Corporation offers property development, property management, building maintenance, construction management and brokerage services to a wide variety of clients in the Greater New York area. Under the leadership of CEO Frank Linde, the company has developed and constructed over 5,000 housing units, including low-income, middle income and luxury condominiums.
“Ten Bank Street’s top-tier amenities and convenient access to major highways and mass transit provide an excellent environment for expansion,” says Mr. Newman, who represented the tenant in the transaction, along with senior leasing associate Kimberly Zaccagnino and leasing associate Tara Long. “We congratulate Property Resources on its growth, and are happy to have assisted the firm in its acquisition of additional space.”
The tenant was represented by Patricia Valenti of Newmark Grubb Knight Frank.
About Ten Bank Street
The most recent addition to Malkin Properties’ Westchester portfolio, Ten Bank Street, in downtown White Plains, is a 225,000-square-foot, 12-story Trophy office building immediately adjacent to the White Plains Transportation Center, which includes the Metro North commuter line that runs directly to Grand Central Terminal in Manhattan and serves as the hub of the extensive Westchester County Bee Line bus system.
A recipient of The Office Building of the Year Award (TOBY) from the Building Owners and Managers Association (BOMA) of Westchester County, Ten Bank Street features on-going building wide enhancements, including a recently redecorated lobby, and renovated common corridors and restrooms; in-house concierge service; Ten Bank Street Café dining facility and catering service; secured, structured parking garage with 417 spaces, located within the building, with 24/7 card access; 24/7 on-site security; a broad range of telecommunications systems; an ATM; and close proximity to banks, restaurants, hotels, dry cleaning, business suppliers, and retail, including The Galleria and The Westchester shopping malls.
In 2010, Ten Bank Street earned the nationally recognized Energy Star designation from the U.S. Environmental Protection Agency. The designation signifies that the property meets strict energy performance standards set by the EPA and uses less energy, is less expensive to operate, and causes fewer greenhouse gas emissions than its peers.
About Malkin Properties
Malkin Properties is the real estate management, marketing and acquisition arm of the Malkin family, which has commercial, retail, and residential operations in 15 states. The company’s portfolio of suburban Trophy office buildings totals 1.85 million square feet of prime space in Westchester County, N.Y. and in Fairfield County, Conn.
In addition to Ten Bank Street, Malkin Properties’ other Westchester County Trophy building is 500 Mamaroneck Avenue, a five-story, 285,000-square-foot multi-tenant office building located between the Hutchinson River Parkway and I-95 in Harrison. In neighboring Fairfield County, Conn., Malkin Trophy properties are: First Stamford Place, a three-building, 810,000-square-foot office complex located along I-95, adjacent to the Stamford Transportation Center; Metro Center, a 280,000-square-foot property at the Stamford Transportation Center; and MerrittView, a 255,000-square-foot office building located at the Merritt Parkway's exit 40A in Norwalk.
Malkin Properties provides full turn-key deal-making and management services, including marketing, lease negotiations, design, construction, management and cleaning services, all performed in-house. The firm is committed to sustainable property operations and development, including energy efficiency, water use reduction, waste and recycling and indoor environmental quality initiatives. Together with Ten Bank Street, 500 Mamaroneck, Metro Center and MerrittView also recently earned the Energy Star designation; the balance of the Malkin Properties suburban Trophy portfolio is undergoing Energy Star review.
Broker commissions are paid in full upon lease signing.