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| 45 Research Way, Suffolk County, Long Island, NY |
NEW YORK, NY – HFF announced today that it has arranged a
$10 million financing for 45 Research Way, a 59,294-square foot, Class A
suburban office and medical office property in East Setauket, New York.
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| Michael Gigliotti |
HFF
worked on behalf of the borrower, TRITEC Real Estate Company, to secure the
long-term, fixed-rate loan through Sentinel Asset Management, Inc. acting on
behalf of Life Insurance Company of the Southwest.
45
Research Way is located 55miles east of Manhattan within Stony Brook Technology
Center, a 103-acre, one million-square-foot master-planned office park.
Completed in 1997, the two-story building is
94 percent leased to a variety of medical and non-medical tenants, and also
serves as TRITEC’s headquarters. The
property features an atrium lobby, 50-person conference room, on-site fitness
center and 24-hour access.
The HFF team representing the borrower was led by associate
director Michael Gigliotti. TRITEC was led by TRITEC Asset Management’s Yvonne
Sun.
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| Yvonne Sun |
“Attracting flexible balance sheet financing to 45 Research
Way is a testament to the strength of Stony Brook Technology Center as well as
the deep commitment that TRITEC has to its headquarters building and the overall
business park,” said Gigliotti.
“HFF was very responsive and professional throughout the
process and put us in touch with the right lender, Sentinel, for this deal,”
commented Sun.
Founded in 1986, TRITEC Real Estate Company—comprising
TRITEC Development Group, LLC, TRITEC Building Company, Inc., TRITEC Asset
Management, Inc. and TRITEC Capital, LLC—has established itself as a leader
among New York commercial real estate companies, with a decades-long track
record of successfully acquiring, developing, constructing, financing, leasing,
and managing real estate projects.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 |
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