CBRE reps seller and procures buyer in $28.5m sale of 264,482 s/f office building

Holtsville, NY CBRE handled the $28.5 million sale of 5000 Corporate Ct., a two-story, 264,482 s/f office building in the hamlet of Holtsville and the town of Brookhaven.

Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, Stuart MacKenzie and Travis Langer of CBRE’s Institutional Properties Group, in collaboration with Philip Heilpern of CBRE Advisory & Transaction Services, represented the seller, Office Properties Income Trust, an entity managed by The RMR Group. CBRE also procured the buyer, Northpath Investments.

5000 Corporate Ct. is near Exit 62 off the Long Island Expressway (I-495). The property is anchored by GSA tenants, including the Internal Revenue Service and U.S. Citizenship and Immigration Service. The property’s floor plates, parking (seven spaces/1,000 s/f), and Central Suffolk office rental rates provide an ideal combination to accommodate tenants with open space plans and high-density requirements.

“5000 Corporate Court will complement Northpath’s other asset, Brookhaven Professional Center,” said Bardsley. “The property’s expansive floor plates can meet larger tenant requirements, while Brookhaven Professional Center can cater to a smaller tenant profile.”

“We are very pleased with this acquisition which will add to our growing office building portfolio,” said Gershon Alexander, principal at Northpath Investments.