As we enter a new era, HGAR remains steadfast in its commitment to serve and support you—through advocacy, professional development, and programs that empower your business.
“Homebuying momentum is building after nearly two years of suppressed home sales,” said NAR Chief Economist Lawrence Yun.
RYE BROOK— SCHOTT Corporation has signed a lease for more than 14,000 square feet of space at Kingsbrook, a recently renovated six building complex located at 1100 King St. in Rye Brook owned by New York City-based George Comfort & Sons, Inc.
The international technology company that specializes in the areas of specialty glass and glass-ceramics signed a lease for 14,140 square feet and will be relocating its North American headquarters from 555 Taxter Road in Elmsford in the first quarter of 2021.
The company has more than 130 years of development, materials and technology expertise and is an enabler for many industries, including the home appliance, pharma, electronics, optics, life sciences, automotive and aviation industries.
SCHOTT Corporation was represented in the transaction by Managing Directors Maureen O’Boyle and Gerry Lees of Cushman & Wakefield. George Comfort & Sons was represented in-house by Senior Vice President Dana Pike as well as by Senior Vice President Brian Carcaterra of CBRE.
“This has been a challenging and uncertain time for everyone in the New York-Metro region, so it’s encouraging to see leasing activity as SCHOTT joins our prestigious tenants at the premier office destination we’ve cultivated at Kingsbrook,” said Peter Duncan, CEO of George Comfort & Sons. “We’ve always been big believers in the Westchester market, and we’re optimistic that it will continue to be a draw for forward-thinking companies over the long-term.”
Acquired by a joint venture of George Comfort & Sons and DRA Advisors in 2018, Kingsbrook is located on 25 acres. It features recently renovated lobbies and common areas, plus extensive amenity offerings with conference facilities, three cafes, two fitness centers, ample parking, and shuttle service to the nearby Port Chester Metro-North station. Other amenities include outdoor seating and activity spaces that feature volleyball and bocce courts.
The six building, 565,000-square-foot office complex is conveniently located near the Westchester County Airport, Hutchinson River Parkway, I-287, I-95, and I-684 and boasts a diverse tenant roster, which includes POP Displays, Nomura, Xylem, Compass Group and the Leukemia & Lymphoma Society.
George Comfort & Sons owns and operates a commercial real estate portfolio of approximately 14.5 million square feet nationwide. In addition to its New York headquarters, it has offices in Purchase and Stamford, CT. New York City-based DRA was founded in 1986 and has acquired more than $33 billion of real estate, including 79 million square feet of industrial, 59 million square feet of office, 82 million square feet of retail and 74,000 multifamily units. As of Dec. 31, 2019, DRA had $11.6 billion in gross assets under management.
“Homebuying momentum is building after nearly two years of suppressed home sales,” said NAR Chief Economist Lawrence Yun.
Most of the counties in the HGAR market area are considered “high-cost areas” by the FHFA.
NAR officials noted yesterday that the court heard from all parties as well as objectors and the Department of Justice. Once arguments concluded, the court quickly ruled to grant final approval.
Outdoor space was especially important to movers to the Midwest, while movers to the Northeast were particularly driven by the need for more square footage and a better work commute.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
