{"id":1004197822,"date":"2017-11-20T06:06:34","date_gmt":"2017-11-20T14:06:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004197822"},"modified":"2018-08-08T08:14:01","modified_gmt":"2018-08-08T16:14:01","slug":"long-island-office-park-commands-61m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/long-island-office-park-commands-61m\/","title":{"rendered":"Long Island Office Park Commands $61M"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004197830\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/4237.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004197830\" data-attachment-id=\"1004197830\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/long-island-office-park-commands-61m\/attachment\/4237\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/4237.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&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;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Hauppauge Office Park, Hauppauge, N.Y.\" data-image-description=\"&lt;p&gt;Hauppauge Office Park, Hauppauge, N.Y.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Hauppauge Office Park, Hauppauge, N.Y.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/4237.jpg?w=1000\" class=\"wp-image-1004197830 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/4237.jpg\" alt=\"Hauppauge Office Park, Hauppauge, N.Y.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/4237.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/4237.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/4237.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004197830\" class=\"wp-caption-text\">Hauppauge Office Park, Hauppauge, N.Y.<\/p><\/div>\n<p>Colin Development has sold Hauppauge Office Park in Hauppauge, N.Y. Signature Acquisitions purchased the three-building campus for $61 million, shortly after\u00a0the firm acquired an eight-building\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/jersey-office-portfolio-commands-87m\/\">commerce office portfolio in New Jersey<\/a>.\u00a0<\/p>\n<p>Located at 878, 888 and 898 Veterans Memorial Hwy., the Class A office complex encompasses a total of 282,656 square feet. According to Yardi Matrix, the campus spreads across 25 acres and was built in phases in 1989 and 2014. Amenities include a fitness center, racquetball court, full-service cafeteria, on-site security, high-tech media center and 1,357 parking spaces.<\/p>\n<h2>Near full occupancy<\/h2>\n<p>Allstate has a 10-year lease for\u00a0one entire building, while the other two are 95 percent leased to multiple tenants, including Bridgehampton National Bank (32,274 square feet), Crawford &amp; Co. (23,546 square feet), Urban Financial America (12,625 square feet) and Morgan Stanley (8,008 square feet).\u00a0Hauppauge Office Park is situated along the busy Long Island Expressway and Northern State Parkway, which provide tenants easy quick access to and from New York City and Long Island MacArthur Airport.<\/p>\n<p>CBRE Institutional Properties&#8217; Jeffrey Dunne\u00a0and\u00a0Steven Bardsley, along with Philip Heilpern represented both parties in the transaction.<\/p>\n<p>\u201c<em>With the long-term lease to Allstate and high overall occupancy, Hauppauge Office Park offers new ownership a very stable and predictable income. Combined with its huge amenity package and highly accessible location, Hauppauge Office Park should continue to attract and retain credit tenants for years to come,<\/em>\u201d Dunne said in a prepared statement.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hauppauge Office Park in Hauppauge, N.Y., comprises three buildings occupied by multiple financial tenants. The office campus is anchored by Allstate, which has a 10-year, full-building lease. <\/p>\n","protected":false},"author":241,"featured_media":1004197830,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1600,21742,10,21747],"tags":[33097,32789,38375,33938],"class_list":["post-1004197822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-new-york","category-latest","category-northeast","category-office","tag-allstate","tag-cbre","tag-colin-development","tag-signature-acquisitions"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Long Island Office Park Commands $61M - 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\/long-island-office-park-commands-61m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Long Island Office Park Commands $61M\" \/>\n<meta property=\"og:description\" content=\"Hauppauge Office Park in Hauppauge, N.Y., comprises three buildings occupied by multiple financial tenants. 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