Tuesday, June 21, 2016

HFF closes $15.75 million sale of best-in-class suburban office asset in Syracuse, NY

Salina Meadows Office Park, Syracuse, NY
Rob Rizzi
NEW YORK, NY, June 21, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $15.75 million sale of Salina Meadows, a four-building, 239,320-square-foot, Class A office park in Syracuse, New York.

HFF marketed the asset on behalf of the owner, Second City Real Estate.  A local investor, who owns 250 South Clinton, among other Syracuse properties, purchased the asset.       

Salina Meadows consists of 200, 220 and 231 Salina Meadows Parkway and 301 Plainfield Road, which are collectively 85.2 percent leased. 

Major tenants at the park include Traveler’s Indemnity Co., Mutual of Omaha Insurance Co., Walgreen Co. and Acadia Insurance Co.

 The property features large, efficient floor plates; expansive windows; ample parking (1,225 spaces); a fitness center; common conference facilities and a full-service café/deli. 

Situated on 21.61 acres at the crossroads of Interstates 81 and 90, Salina Meadows is convenient to downtown Syracuse, Hancock International Airport and DestinyUSA Mall.   

Jose Cruz
The HFF investment sales team representing the seller was led by managing director Rob Rizzi, senior managing director Jose Cruz, managing director Kevin O’Hearn, director David Fowler and associate director Michael Oliver.

“Salina Meadows is one of the premier office parks in Upstate New York.  The offering presented an investor with a well-leased, cash flowing asset at an exceptional cost basis with a strategic location in the Syracuse market,” said Rizzi.

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

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

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