Pace U. Puts Briarcliff Campus, Office Condo on Market
John Jordan | June 25, 2015
WHITE PLAINS—Pace University, which is undertaking a $100-million redevelopment of its Pleasantville campus in Westchester County, has put its 37-acre Briarcliff Manor campus and its 82,000-square-foot office condominium in Downtown White Plains on the market for sale.
Pace, which has its main campus in Manhattan and houses its Law School on a campus on North Broadway in White Plains, has hired CBRE Group to sell the Briarcliff campus and its Evelyn and Joseph I. Lubin Graduate Center condominium, located within the Westchester Financial Center at One Martine Ave. in White Plains.
With the redevelopment of its Pleasantville campus, the university relocated operations at the Briarcliff campus to Pleasantville, which is now the university’s hub for undergraduate and graduate studies in Westchester, thus eliminating the need for the Briarcliff and Martine Avenue properties.
CBRE Group Executive Vice President William Cuddy is overseeing the assignment with Senior Associate Jacqueline Novotny responsible for the sale of the Briarcliff campus and Patrick Colwell, Senior Vice President for Investment Properties, responsible for the sale of One Martine Avenue.
“Both of these properties offer unique bonuses for potential buyers,” said CBRE’s Cuddy. “The Briarcliff Manor campus is able to opportunistically accommodate educational uses or other potential development. And, 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. The buildings range in size from 13,041 square feet to 111,915 square feet and support a variety of uses—including office, student housing, dining, recreational and educational. The expansive grounds also feature tennis courts and ball fields.
Pace’s space at One Martine Ave. consists of a ground floor lobby and the entire floors two through five of the building, a total of approximately 82,000 square feet. The space is in the 14-story, 180,000-square-foot, Class A building at One Martine Avenue, part of the Westchester Financial Center that offers 360 parking spaces, a full-service cafeteria, outdoor patio seating and on-site concierge services.
Editor, Real Estate In-Depth