Rye Ridge Shopping Center is excited to announce that Compass, a residential real estate office, has signed a long-term lease for 1,410 square feet. Compass will be located adjacent to ZLife Denim Lounge.
Compass originally was a real estate technology company, founded in 2012 and headquartered in New York City. Since its inception the company has experienced tremendous growth spurred by massive cash investments and in 2014 announced they would enter the real estate business contracting independent real estate agents and taking a cut of the commission. Currently they operate out of 19 major markets and announced in 2018 that they plan to go international. In 2018, after a $400 million investment the company had a valuation of $4.4 billion.
“We always thought a residential real estate office would fit nicely here,” said Erin Hinchey, leasing agent for the shopping center. “Since Rye Brook has no ‘downtown,’ we are literally it. They understand the exposure they will have here and the ease of convenience in parking and food choices. We very much look forward to their opening.”
The Rye Ridge Shopping Center is located at South Ridge Street and Bowman Avenue in Rye Brook.