Class A Office Building

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Suffolk County, NY
PRICE Make Offer
GLA 164,462 SF
PROPERTY TYPE Office
CAP RATE 7.0%
OCCUPANCY 91%
YEAR BUILT 1979
Downloads
OFFERING MEMORANDUM
FLYER

BRANDON HAKIMI
brandon@namdarllc.com
(516) 773-0080
DEMOGRAPHICS
Total Population
1 – mi. – 14,353
3 – mi. – 94,629
5 – mi. – 259,716
More info in the flyer

INVESTMENT HIGHLIGHTS

  • Among the highest quality office buildings in central Long Island
  • Very strong leasing momentum – recently signed leases with The Learning Experience 10K SF pad site, 16K SF to Mount Sinai, and 33K SF to Cintas (CTAS:NASDAQ)
  • Extraordinary signage and branding opportunity along one of the NYC Metro’s most heavily traveled roadways
  • Investment grade tenants and a history of strong tenant retention (recently signed LOI from The Learning Experience – pad site)
  • Abundant parking, full-service cafeteria, tenant storage spaces, onsite conference facility and banking
  • Over $1.6 million of capital improvements since 2008 including lobby and common area renovations, upgraded conference facilities, elevators, hallways and restrooms
  • Significant barriers to further development; market has seen only build-to-suit for the past decade
  • Long Island’s limited number of remaining development sites are hindered by extensive upfront costs, a multitude of competing interests and complex regulatory oversight
  • Home to 2.8 million people, the island is the sixth largest MSA in the country

City:Suffolk County
State:NY
Square Feet:164,462 SF
Price:Make Offer
Cap Rate:7.0%

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