WHITE PLAINS, N.Y. – October 20, 2011 – (RealEstateRama) — NRS Logistics Inc., an American branch of Japan-based NRS Corporation, which specializes in the transportation of pharmaceuticals and chemicals, has renewed its lease and expanded its office space at Ten Bank Street, directly adjacent to the White Plains Transportation Center, according to Jeffrey H. Newman, executive vice president of Malkin Properties, the marketing and managing agent for the building.
The tenant, which has renewed twice since taking occupancy at the Trophy property in 1997, has extended its eleventh floor lease into 2017, while increasing the size of its demised premises by 20% to 3,100 square feet. Malkin Construction will build out the expansion space for the tenant.
“This lease extension will take NRS Logistics deep into its second decade at Ten Bank Street,” says Paul Moulins, an associate at Rakow Commercial Realty Group, who brokered the deal on behalf of NRS Logistics. “The firm has been fortunate enough to have grown its space needs at the building, and Malkin Properties was able to accommodate its requirement efficiently by making contiguous space available. From the convenience to transportation to the top-tier amenities package to the hands-on tenant management services, this property offers everything the firm needs.”
“Malkin Properties is known for its flexibility in working to accommodate tenant needs,” says Mr. Newman. “Tenants recognize this, and during times of growth they typically choose to expand within our Trophy office buildings. We are always glad to satisfy the evolving space requirements of our long-time tenants such as NRS Logistics.”
NRS Corporation is a privately held company based in Tokyo, Japan that supplies services and equipment for the transportation and storage of petrochemicals and other chemical products. Founded in 1946, NRS has expanded over the last 65 years to include agencies worldwide, including locations in China, France, London, and The Netherlands. The company’s primary services include warehousing, custom clearance, domestic and international transportation, equipment leasing, rentals and sales, and logistics IT system development.
Mr. Newman represented the landlord in this transaction, with assistance from Malkin Properties’ senior leasing associate Kim Zaccagnino.
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.
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 recycling and indoor environmental quality initiatives. Recently, 500 Mamaroneck and MerrittView earned the nationally recognized Energy Star designation from the U.S. Environmental Protection Agency (EPA); the balance of the Malkin Properties suburban Trophy portfolio, including Ten Bank Street, is undergoing Energy Star review.
Broker commissions are paid in full upon lease signing.
FROM: MALKIN PROPERTIES Metro Center, One Station Place
Stamford, CT 06902
Website: malkinproperties.com
CONTACT: LVM Group Inc.
Mike Odenthal, (212)499-6571; mike (at) lvmgroup (dot) com
