Joint venture shells out $42.5M for White Plains office buildings

A joint venture between Jack Sitt Real Estate LLC and GII LLC shelled out $42.5 million for a pair of office buildings in White Plains, the Westchester County Business Journal reported. An entity affiliated with Westport Capital Partners LLC sold the buildings on Grand Street, known as Grand Street Plaza, which house more than 30 tenants. CBRE represented the seller and brought the buyer, according to the outlet. In a statement, Jeffrey Dunne of CBRE said the purchase would “provide the buyer with long-term stable cash flow for the foreseeable future.” [WBJ]