United Corporate Services Signs Early Renewal At Malkin Properties’ Ten Bank Street in White Plains

February 11, 2010

WHITE PLAINS, N.Y. – United Corporate Services, Inc. has renewed its 6,432-square-foot lease on the fifth floor of Ten Bank Street a year and a half early, according to Jeffrey H. Newman, executive vice president of Malkin Properties, the marketing and managing agent for the building.

United Corporate Services, which extended its lease by ten years, has been a tenant at Ten Bank Street since 2001. Founded in 1970, the family-owned business is a leading provider for a full range of corporate, UCC and registered agent services.

“We find that Malkin Properties is a very professional, attentive and accommodating organization to work with,” says Craig Ruoff, managing director at Rakow Commercial Realty Group, Inc., who represented the tenant. “They were very cooperative in working with us to achieve a deal that meets the needs of United Corporate Services and positions the firm for the future.”

"Early renewals are an important indicator of tenant commitment and satisfaction,” says Mr. Newman. “Tenants recognize the importance of having space in a high-quality building with financially stable ownership and strong management. As such, we are delighted to have arranged for an early lease extension with United Corporate Services.”

Mr. Newman and senior leasing associate Kimberly Zaccagnino represented the landlord in this transaction.

Founded in 1970, UCS is a family owned business that is a trusted provider of corporate services to corporations and law firms nationwide. For more information, please visit www.unitedcorporate.com.

The most recent addition to Malkin Properties’ Westchester portfolio, Ten Bank Street, in downtown White Plains, is a 225,000-square-foot, 12-story trophy office building immediately adjacent to the White Plains Transportation Center, which includes the Metro North commuter line that runs directly to Grand Central Terminal in Manhattan and serves as the hub of the extensive Westchester County Bee Line bus system.

Ten Bank Street garnered the 2005 “Office Building of the Year Award” from the Westchester County Chapter of the Building Owners and Managers Association, the third time Ten Bank Street has received this distinction.

Malkin’s ongoing program of enhancements to the building, which was built in 1989, includes: the extensive updating of common corridors and installation of new solid-surface flooring in the elevator cabs; and an upgraded “Ten Bank Street Café,” which is located off the main lobby, providing tenants and their visitors with an expanded dining service and eating area as well as full catering services.

Building features include:

• a 24-hour-a-day secured, structured parking garage with 417 spaces, located within the building;
• 24-hour security and card access to the building;
• fiber optic high-speed Internet access;
• an ATM; and
• close proximity to banks, restaurants, hotels, dry cleaning, business suppliers, and retail, including The Galleria and The Westchester shopping malls.

In addition to Ten Bank Street, Malkin Properties has another Westchester County office building: 500 Mamaroneck Avenue, the five-story, 285,000-square-foot multi-tenant office building located in the surging I-287 East submarket in Harrison.

Malkin trophy properties in neighboring Fairfield County, Conn. are: First Stamford Place, a three-building, 810,000-square-foot office complex located along I-95, adjacent to the Stamford Transportation Center; Metro Center, a 280,000-square-foot property at the Stamford Transportation Center; and MerrittView, a 255,000-square-foot office building located at the Merritt Parkway's exit 40A.

The company’s portfolio of suburban office buildings totals 1.85 million square feet of prime space in Westchester County, N.Y. and in Fairfield County, C.T.

Malkin Properties provides full turn-key deal-making and management services, including marketing, lease negotiations, design, construction, management and cleaning services, all performed in-house. Broker commissions are paid in full as soon as leases are signed.

The firm is committed to sustainable property operations and development, including energy efficiency, water use reduction, waste recycling and indoor environmental quality initiatives.

Malkin Properties is the real estate management, marketing and acquisition arm of the Malkin family, which has commercial and residential operations in seven states.