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Verizon Communications, signed a five-year lease for nearly 100,000 SF in White Plains for its new FIOS services operations, as well as for customer support, a call center and staff training.

The Metropolitan Transit Authority purchased a 77,000 SF office building in White Plains for $15.5 million.

Putnam County received an Empire Zone designation, which enables job-creating companies to operate virtually tax-free for 10 years.

Savanna Investment Management plans to develop 282 acres near Stewart International Airport about 1 million SF of commercial and industrial space.

Matrix Development Corporation, a Cranbury, New Jersey developer, acquired two adjacent parcels totaling about 70 acres in Newburgh and plans to build a 650,000-square-foot warehouse near the intersection of I-84 and I-87.

CSX plans to spend $48.5 million in improve its rail system in New York state, including upgrades to about 350 miles of tracks in the Hudson Valley.

Precision Flow Technologies, a company that manufactures ultra-high-purity gas delivery systems, is expanding and renovating its 58,000-square-foot Saugerties facility.

Lucerne Capital Management, an investment firm trading in European equities, has leased nearly 5,000 square feet for its headquarters in Harrison.

Ingersoll Rand, a diversified industrial manufacturer, leased 8,195 square feet of office space at 25 Corporate Park Drive in East Fishkill, New York.

Sherpa Business Solutions, Inc., a data processing company doubled its presence at the Hudson Valley Business Center in Kingston, New York, by signing a lease for 10,000 square feet of office space.

Time-Warner Cable is moving its business services and media sales divisions to Middletown, New York, in early 2008. The relocation involves 60 jobs.

Xand Corp., a data center infrastructure and business continuity provider, nearly doubled in size by signing a new lease for 43,632 square feet of space in Hawthorne, New York. The company now leases nearly 90,000 square feet at the Mid-Westchester Executive Park.

UBS Financial Services expanded its presence in Westchester County by signing a lease for 29,028 square feet of space at 709 Westchester Avenue in White Plains.