The Real Deal

Westchester & Fairfield Cheat Sheet: RBS sells Stamford building … & more

Royal Bank of Scotland selling Stamford building, but still plans to lease space
The Royal Bank of Scotland is selling its Stamford building — a move that comes as the company continues to “reduce… [its] global footprint,” the company said in a statement. The bank has laid off more than 700 people in Stamford over the past few years, the Fairfield Business Journal reported. Though it will no longer own the building, the company still plans to lease office space at the site. The bank didn’t say how much it was selling the 600 Washington Boulevard building for, but it was last appraised at $150.6 million. [FBJ]

Developer shells out $14.75M for two office buildings along Westchester’s Platinum Mile
A Rye Brook-based developer has snapped up a pair of office buildings along Westchester Avenue. RPW Group founder and CEO Robert Weisz shelled out $14.75 million for the two Class A buildings at 925-1025 Westchester Avenue in White Plains, LoHud reported. Weisz told the outlet that his company “buy[s] buildings that need attention.” The buildings were previously owned by Normandy Real Estate Partners, and are 65 percent leased. Weisz plans to market and rent out the vacant space. CBRE and online commercial real estate marketplace Ten-X brokered the deal. [LoHud]

New owner of Westchester One tower in White Plains planning “multi-million dollar renovation”
The new owner of a 21-story office tower in White Plains is planning a “multi-million dollar renovation” that will start next month, the Westchester County Business Journal reported. Argent Ventures LLC bought the Westchester One tower at 44 South Broadway in White Plains from Beacon Capital Partners for $138 million last year and leased up 90,000 square feet in the property since then. The real estate company plans to expand the building’s cafeteria, install tenant lounge areas, art gallery space and outdoor seating in addition to upgrading its infrastructure, according to Cushman & Wakefield, the leasing agent for the building. [WBJ]

Dolce Norwalk event and conference center to become LaKota Oaks following sale
The Dolce Norwalk will soon be known as LaKota Oaks, the Fairfield Business Journal reported. Dix Hills real estate investment and development company Queens Plaza West LLC bought the event and conference center on Weed Avenue in Norwalk for an undisclosed sum. The company plans to renovate it and rebrand it in partnership with LaKota Hotels & Resorts. The 10,500-square-foot building has 120 guest rooms, a 240-seat ballroom, a recreation center and other amenities. [FBJ]

Sears and Kmart stores in Westchester and Fairfield counties won’t be closing
Dozens of Sears and Kmart stores around the country are slated for closure as Sears Holding Corporation tries to combat dwindling sales, but the ones in Westchester and Fairfield counties have been spared — for now. Fairfield County has one Sears store, at the Danbury Fair Mall, while Westchester County has several Sears and Kmart stores, the Fairfield County Business Journal reported. [FBJ]

Read Full Article