STAMFORD, Conn. – CBRE Group’s Westchester/Fairfield County office announced today that it has been retained to represent Pace University in the sale of two Westchester properties.
The University plans to sell its 37-acre Campus at 235 Elm Road in Briarcliff Manor, New York and the 82,000-sq.-ft. Evelyn and Joseph I. Lubin Graduate Center condominium, located within the Westchester Financial Center at One Martine Avenue in White Plains, New York.
Pace has made major investments in its Pleasantville campus, providing state of the art classrooms, residence halls, and student activity space. Pleasantville has become the Pace University hub for undergraduate and graduate studies in Westchester, eliminating the need for the Briarcliff and Martine Avenue properties.
“Both of these properties offer unique bonuses for potential buyers,” says CBRE Group Executive Vice President William Cuddy. “The Briarcliff Manor Campus is able to opportunistically accommodate educational uses or other potential development. One Martine Avenue’s location is at the center of the regional rail and bus transportation network in a Class A White Plains office building, making it an unparalleled opportunity in downtown White Plains.”
The Briarcliff Manor Campus consists of nine buildings totaling 330,308 square feet located on 37 acres and supports a variety of uses including office, student housing, dining, recreational and educational. The expansive grounds also feature tennis courts and ball fields.
The One Martine Avenue property includes the ground floor lobby and the entire floors two through five of the building, a total of approximately 82,000 square feet. Located within the White Plains Central Business District, the property includes 360 parking spaces, a full service cafeteria, outdoor patio seating, and is just a short walk from the Metro-North train station.