{"id":1004025815,"date":"2011-01-14T12:51:15","date_gmt":"2011-01-14T20:51:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004025815"},"modified":"2022-12-08T19:59:13","modified_gmt":"2022-12-09T03:59:13","slug":"healthnow-corporate-hq-in-buffalo-trades-for-84-5m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/","title":{"rendered":"HealthNow HQ Trades for $84.5M"},"content":{"rendered":"<p>January 14, 2011<br \/>\nBy Barbra Murray, Contributing Editor<\/p>\n<p><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004025816\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/csa-6912-dc\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg\" data-orig-size=\"1429,949\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Copyright 2007 James Cavanaugh&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;HealthNow Building&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;Copyright 2007 James Cavanaugh&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;CSA-6912-DC-&quot;}\" data-image-title=\"CSA-6912-DC-\" data-image-description=\"&lt;p&gt;HealthNow Building&lt;\/p&gt;\n\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg\" alt=\"\" title=\"CSA-6912-DC-\" width=\"300\" height=\"199\" class=\"alignright size-medium wp-image-1004025816\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg 1429w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg?resize=300,199 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg?resize=768,510 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg?resize=1024,680 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>The 430,500 square-foot corporate headquarters of HealthNow New York Inc. comes under new ownership, courtesy of a transaction valued at $84.5 million. Cole Real Estate Investments snapped up the premier office asset from Duke Realty Corp., which had developed the two-building campus as a build-to-suit for the healthcare company in 2008 for $102 million.<\/p>\n<p>HealthNow&#8217;s headquarters occupies a nine-acre parcel of land that had been a contaminated brownfield site before Duke commenced construction of the build-to-suit. The property consists of a seven-story tower and eight-story tower connected by a seven-story atrium. The buildings, designed by architect Steven Risting, feature the stone fa\u00e7ade of the historic 1850&#8217;s-era structures that were once home to Buffalo Gas Light Co. The HealthNow campus, which includes a six-story 1,500-space parking facility linked to the office buildings by a bridge, is LEED Silver-certified by the U.S. Green Building Council.<\/p>\n<p>Commercial real estate services firm Jones Lang LaSalle, acting through its Healthcare Capital Markets division, represented Duke in the transaction, while Cole relied on internal representation. &#8220;There was strong interest in the property considering that it&#8217;s in a secondary market, but because of the high-quality of the construction and the investment-grade tenant with a long-term lease, it did garner a lot of interest,&#8221; Joseph Garibaldi, managing director with JLL, told <em>CPE<\/em>. HealthNow will continue to call the property home under a lease agreement scheduled to expire in 2024; however, the lease does allow for four five-year renewals.<\/p>\n<p>In terms of the sale price for the HealthNow campus, Garibaldi believes Duke got a good deal. &#8220;It was extremely aggressive pricing given the time we traded.&#8221; In general, sales activity in secondary markets is on the upswing, he added. &#8220;We do see a pickup. A lot of investors have been getting priced out of primary markets, but with properties like the HealthNow headquarters in secondary markets, they&#8217;re able to come in and get-risk adjusted returns because of the construction quality and the tenancy.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 430,500-square-foot office asset was snapped up by Cole Real Estate Investments from Duke Realty Corp., which had developed the two-building campus as a build-to-suit in 2008.<\/p>\n","protected":false},"author":936,"featured_media":1004025816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742,21747],"tags":[],"class_list":["post-1004025815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HealthNow HQ Trades for $84.5M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HealthNow HQ Trades for $84.5M\" \/>\n<meta property=\"og:description\" content=\"The 430,500-square-foot office asset was snapped up by Cole Real Estate Investments from Duke Realty Corp., which had developed the two-building campus as a build-to-suit in 2008.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-01-14T20:51:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:59:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1429\" \/>\n\t<meta property=\"og:image:height\" content=\"949\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/\",\"name\":\"HealthNow HQ Trades for $84.5M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg\",\"datePublished\":\"2011-01-14T20:51:15+00:00\",\"dateModified\":\"2022-12-09T03:59:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg\",\"width\":\"1429\",\"height\":\"949\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"HealthNow HQ Trades for $84.5M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249\",\"name\":\"Allison Landa\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"caption\":\"Allison Landa\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/allisonlanda\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"HealthNow HQ Trades for $84.5M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/","og_locale":"en_US","og_type":"article","og_title":"HealthNow HQ Trades for $84.5M","og_description":"The 430,500-square-foot office asset was snapped up by Cole Real Estate Investments from Duke Realty Corp., which had developed the two-building campus as a build-to-suit in 2008.","og_url":"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2011-01-14T20:51:15+00:00","article_modified_time":"2022-12-09T03:59:13+00:00","og_image":[{"width":1429,"height":949,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg","type":"image\/jpeg"}],"author":"Allison Landa","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/","url":"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/","name":"HealthNow HQ Trades for $84.5M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg","datePublished":"2011-01-14T20:51:15+00:00","dateModified":"2022-12-09T03:59:13+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg","width":"1429","height":"949"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/healthnow-corporate-hq-in-buffalo-trades-for-84-5m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"HealthNow HQ Trades for $84.5M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249","name":"Allison Landa","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","caption":"Allison Landa"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/allisonlanda\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/HealthNow-HQ.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004025815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/936"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004025815"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004025815\/revisions"}],"predecessor-version":[{"id":1004618857,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004025815\/revisions\/1004618857"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004025816"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004025815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004025815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004025815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}