White Plains CitizeNetReporter - Argent Mortgage to Move in to 333 Westchester Ave.

WPCNR WESTCHESTER AVENUE ADVOCATE & BEACON. February 24, 2003: The former General Foods property in White Plains, 333 Westchester Avenue, announced today the lease of about one/third(118,000 square feet) of the newly refurbished 333 Westchester "urban-rural" office complex to Argent Mortgage Company, a subsidiary of Ameriquest Mortgage Company.

THE RIGHT MAYOR:Charles S. Cohen thanked Mayor Joseph Delfino for his support of the renovation, calling him "The Right Mayor," after the Mayor had complimented Cohen for bringing Argent Mortgage into "the right building, the right county, and the right city." Mayor Delfino recalled that he had started his business career in the very same building back in the late 1950s.
Photo by WPCNR Business

Cohen said Argent would be leasing the North building for a training facility, and complimented his brokers, Colliers ABR, for bringing in Argent and pointing out the expansion possibilities the 333 Westchester offered to them as the key to the deal.

Colliers Vice Chairman Stephen J. Riker would not disclose the terms of the lease or its length. When asked if it was less than market value, Riker declined to say whether the lease deal made was below typical market, saying only that the lease rate per square foot was "competitive." He said it was negotiated in three weeks.

Mr. Cohen noted that the Argent operation will be bringing in 400 employees into the new White Plains offices this summer, and will feature a state-of-the-art loan processing training complex.

According to the news release provided at the news conference, the four buildings on the corner of Westchester Avenue and North Street offer 600,000 square feet. 333 Westchester the new home for Argent Mortgage, contains 168,000 square feet of office space, of which Argent with the signing of the lease over the weekend is renting 118,000 square feet.

Tenants at 333 Westchester Avenue include Allied Irish Bank, Moviefone, MACSTEEL ASOMA, steel traders, Endurance Specialty Holdings, a Bermuda insurance company, Fredman & Rosen,lawyers, Rosenfeld & Tortu, benefits consultants, Merit Direct and Stone, Russo & Lassaro, CPAs.

The entire four-building complex contains 600,000 square feet, including a cafeteria, conference center, and a recreation facility. The space with the Argent lease now is 50% occupied, while the 333 Westchester North Building is now 70% occupied.


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