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NWH SIGNS LEASE FOR 35000 SQ. FT. AT CHAPPAQUA CROSSING
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NWH SIGNS LEASE FOR 35,000 SQ. FT. AT CHAPPAQUA CROSSING Northern Westchester Hospital (NWH) and Summit/Greenfield Partners said today that the hospital has signed a long-term lease for 35,000 square feet of space at Chappaqua Crossing, the former Reader's Digest campus in the Town of New Castle. Terms of the lease were not disclosed. The hospital will relocate a variety of medical-related services to Chappaqua Crossing utilizing former Reader's Digest space that is currently unoccupied. Summit/Greenfield will build-out the space on the first floor of the 500 Building. The hospital hopes to move into the new space by year-end. NWH, located in nearby Mount Kisco, is in the process of preparing for the construction of an expanded and enhanced state-of-the art emergency department incorporating "green" and patient-centered design and a new parking garage. In order to free up space in the existing hospital, various outpatient medical services will be relocated to Chappaqua Crossing. Joel Seligman, President and CEO of NWH said Chappaqua Crossing provides an ideal location for services that can be located off-site and will allow the hospital to expand internally. "The two locations are less than three miles apart on Route 117. We have strong ties to the Chappaqua/New Castle community and we are thrilled to have access to such a wonderful space. We have studied a wide range of options and Chappaqua Crossing is ideal." The hospital already has a relationship with Chappaqua Crossing. Under an agreement with the Town and Chappaqua Crossing, a van pooling system brings hospital staff to and from Chappaqua Crossing to park their cars while construction of the new emergency department and parking garage are underway, minimizing any traffic impact on local roads. Felix Charney, President of Summit Development and a partner in Chappaqua Crossing, said the hospital was an ideal tenant for the vacant space. "We are pleased to have Northern Westchester Hospital join our roster of tenants. The hospital provides vital health care services for Chappaqua and New Castle as well as adjacent communities. Their uses are a perfect fit and give us the opportunity to adaptively re-use space in the existing building. Charney pointed out that with the addition of the hospital, Chappaqua Crossing has now reached its limit on the number of tenants it can accommodate, this despite the fact that nearly half of the building remains vacant. Under zoning restrictions placed on the building by the town, a maximum of four tenants are permitted. "The restrictions on occupancy of the building are counter-productive," he explained. "It would be as if a homeowner was told that he could only occupy two of the four bedrooms in his house. We have had strong interest from many prospective tenants for the balance of the space, but have had to turn them away based on the use restriction. For the town to restrict the use of one of the few major commercial tax paying properties in the town and the largest single tax paying property in the Chappaqua School District is irrational. We are very hopeful that the town will recognize the need to revise the zoning so that the existing building which until a few years ago had been fully occupied by Reader's Digest can once again be fully occupied." Northern Westchester Hospital will be joining Reader's Digest (295,000 square feet,) Fiber Media (35,000) and Mount Kisco Medical Group (20,000) at Chappaqua Crossing.
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