VARTA Microbattery, Inc. Leases 6,000+ SF at International Corporate Center at Rye
Westchester County, N.Y .– (March 25, 2013) – Faros Properties, LLC, a New York-based real estate investment firm, has announced the signing of a long term lease by VARTA Microbattery, Inc. for 6,254 square feet (SF) at the International Corporate Center at Rye, located at 555 Theodore Fremd Avenue in Rye, N.Y. VARTA Microbattery specializes in the research, development, production, sales, and marketing of battery systems for electronic devices.
VARTA Microbattery relocated from White Plains to the third floor of the property’s Building C; the complex provides 170,000 SF of Class A office space in three, three-story interconnected buildings and underwent extensive renovation and upgrading in 2012 after purchase by Faros Properties.
“The International Corporate Center at Rye is pleased to welcome VARTA Microbattery to our newly designed property, which is the most cost effective Class A building in Westchester with proximity to the train,” said Alexander Leventhal, Managing Partner, Faros Properties.
Managing Director’s Greg Frisoli and Larry Ruggieri of Newmark Grubb Knight Frank represented the landlord in the negotiations. The tenant was represented by Ian Ceppos and Al Guiterrez of CBRE.
VARTA Microbattery, Inc., has been providing German-designed industrial and consumer battery technology expertise in the US for three decades. Its engineering, sales and customer service departments will be located in Rye; it maintains regional offices, a US distribution network, and warehouses on the east and west coasts.
“Working with the Faros Properties team allowed us to implement many creative design solutions to fit our vision of the space benefitting both VARTA and Faros,” said William Flanagan, CEO and President of VARTA Microbattery. “Their close relationship with the city and local trades fast-tracked approvals on our very compressed schedule and they delivered on time. 555 Theodore Fremd is an outstanding property and representative of VARTA Microbattey’s market position as a technology innovator and leader.”
Recently completed improvements of 555 Theodore Fremd Avenue by Faros Properties include renovation of the main entrance, cafeteria, and gym, as well as lobby renovations and landscaping. The property currently has five units available ranging from 2,700 sq. ft. to 20,000 sq. ft. For information on leasing, please contact Greg Frisoli at 203-531-3605 or Larry Ruggieri at 914-881-1025.
About Faros Properties, LLC
Faros Properties, LLC is a New York-based real estate investment firm. The company currently owns and operates three commercial assets in Westchester County, NY and Fairfield County, CT, located at 555 Theodore Fremd Ave. in Rye, 120 Bloomingdale Rd. in White Plains, and Holly Pond Plaza in Stamford. Faros and its predecessor companies trace their roots to The Beacon Companies founded by Norman Leventhal and his brother in 1945. It has been active for more than six decades in the construction, development, acquisition, management, and financing of real estate internationally. Well-known developments in Boston (location of the family headquarters) include the Meridien Hotel, One Post Office Square, The Boston Harbor Hotel, Rowes Wharf, Center Plaza, South Station, and 75 State Street, among others.
Recently completed improvements of 555 Theodore Fremd Avenue by Faros Properties include renovation of the main entrance, cafeteria, and gym, as well as lobby renovations and landscaping. The property currently has five units available ranging from 2,700 sq. ft. to 20,000 sq. ft.