Real Estate Investment Management Firm Leases 10,500 Sq. Ft. At ESRT’s Ten Bank Street in White Plains
True North Management Group, a privately held real estate investment management firm, will relocate its headquarters to 10,500 square feet at Ten Bank Street in White Plains, NY, adjacent to the White Plains Transportation Center, announced the building’s landlord, Empire State Realty Trust, Inc. (NYSE: ESRT).
The tenant will move from 44 South Broadway this spring under the terms of its new seven-year lease.
Founded in 2004, True North Management Group focuses on mezzanine and bridge financing and on distressed debt markets. It also selectively pursues equity transactions.
“Ten Bank Street is conveniently located next to the White Plains Transportation Center, and has remarkably efficient floor plates,” said Jeffrey H. Newman, senior vice president of ESRT. “That a knowledgeable real estate investment firm like True North Management chose Ten Bank is especially gratifying.”
Mr. Newman represented ESRT in the lease negotiations, along with senior leasing associate Kimberly Zaccagnino and leasing associate Tara Long. Kevin McCarthy of CBRE represented True North Management.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world’s most famous office building. Headquartered in New York, New York, the Company’s office and retail portfolio covers 10.0 million rentable square feet, as of September 30, 2014, consisting of 9.3 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 731,000 rentable square feet in the retail portfolio. The Company also owns land at the Stamford, Connecticut Transportation Center that supports the development of an approximately 380,000 rentable square foot office building and garage.
*Please note all leased square footages are approximate.
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