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| Bank of Aamerica Branch Office, Syosset, NY |
SYOSSET, NY,
June 11, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real
estate investment services firm with offices throughout the United States and
Canada, has arranged the sale of a 4,467-square-foot, single-tenant, net-leased
Bank of America branch near Long Island’s North Shore in Syosset, N.Y.
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| Scott Plasky |
The $12
million sales price equates to $2,686 per square foot.
Scott Plasky in Marcus & Millichap’s Manhattan office
represented the seller, a private investor.
“Net-leased
assets of this quality in the affluent parts of Nassau County rarely trade
hands,” says Plasky.
“The offering’s combination of zero management, great
location, ‘A’-rated-tenant, lease with 16 years remaining, and bank with huge
deposits generated strong activity and a premium price.”
The property is located on the
corner of Jericho Turnpike and Oyster Bay Road at 378 Jericho Turnpike in
Syosset. Both Jericho Turnpike and Oyster Bay Road are five-lane roads.
The
property shares cross easements with the Syosset Center, a high-end
neighborhood shopping center anchored by Verizon and an urgent care facility.
Nearby retailers include Starbucks, Dunkin Donuts, King Kullen, Chase Bank,
Panera Bread, Chipotle, Marshalls, HomeGoods and Petco.
The building
is on a 28,433-square-foot corner lot with a double drive-thru and parking for
48 cars.
For a complete copy of the company’s
news release, please contact:
Gina Relva
Public
Relations Manager
(925)
953-1716
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