Wednesday, April 27, 2016

HFF closes $29.75 million sale of Nassau County, Long Island office building

Jericho Atrium Office Building, 500 North Broadway, Jericho, NY

Jose Cruz
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Jericho Atrium, a 148,563-square-foot office building in Jericho, New York, a hamlet in Nassau County, on Long Island’s North Shore.

HFF marketed the property on behalf of the seller, Metropolitan Realty Associates, LLC and Angelo Gordon & Co., L.P.  The buyer was a Long Island-based real estate company who purchased the asset for $29.75 million. 

Located at 500 North Broadway, Jericho Atrium is convenient to The Long Island Expressway; Northern State, Meadowbrook and Wantagh Parkways; and the Seaford-Oyster Bay Expressway, providing access to Long Island’s North and South Shores, Manhattan and the other New York City boroughs. 

The two-story property is situated on 8.6 acres and offers parking for 690 vehicles.  Building amenities include a fitness center, conference center, daytime concierge and a location adjacent to Whole Foods, Starbucks and Marshall’s among others.

 Jericho Atrium is 88 percent leased.  Notable tenants include American Investment Planners, Clinical Trial Media, NMS Management and Elias Properties.

The HFF investment sales team was led by senior managing director Jose Cruz and managing directors Kevin O’Hearn and Evan Pariser.

“This was a strategic purchase for the new owner.  The property itself offers current stability and upside for the buyer including the pad site,” stated Cruz.

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

No comments: