{"id":1004223834,"date":"2018-04-25T06:11:18","date_gmt":"2018-04-25T14:11:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004223834"},"modified":"2018-04-25T06:11:18","modified_gmt":"2018-04-25T14:11:18","slug":"investcorp-sheds-long-island-office-complex","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/investcorp-sheds-long-island-office-complex\/","title":{"rendered":"Investcorp Sheds Long Island Office Complex"},"content":{"rendered":"

By Corina Stef<\/p>\n

\"\"<\/a>

100 Merrick Road, Rockville Center, N.Y.<\/p><\/div>\n

Valley East Management has purchased a two-building office campus in Rockville Center, N.Y. Yardi Matrix identified the seller as Investcorp, which has been carrying out $2 billion investment strategy focused on acquiring high-quality assets<\/a> across the U.S. The property encompasses 141,000 square feet and is the downtown area\u2019s largest office complex.<\/p>\n

Located in a highly transited area at 100 Merrick Road, the five-story assets sit in the vicinity of Mill River Complex Park, retailers, hotels and eateries. The nearby LIRR Rockville Center train station and major roads such as Sunrise Highway, Southern State Parkway, Belt Parkway and Meadowbrook Parkway provide easy and quick access throughout the entire area, as well as to New York City.<\/p>\n

High occupancy<\/h2>\n

With an occupancy rate of 93 percent, the asset has a roster of tenants that includes companies from the legal and health sector, such as Northwell Health, Rockville Centre Neurosurgical Services, Brio Capital Management and Ram Abstract. Amenities include flexible floor plans, on-site caf\u00e9, tenant storage and ample parking.<\/p>\n

HFF represented both parties in the transaction. A team comprising Senior Managing Director Jose Cruz, Managing Directors Kevin O\u2019Hearn and Jeffrey Julien, and Senior Directors Stephen Simonelli and Michael Oliver represented the seller in the transaction.<\/p>\n

\u201cThis successful transaction demonstrated the continued demand for suburban office product that has a competitive advantage within its submarket and provides a strong and dependable yield<\/em>,\u201d O\u2019Hearn said in a prepared statement.<\/p>\n

Investcorp acquired the assets in 2013 as part of a 1.6 million-square-foot, $250 million portfolio deal.<\/p>\n

Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The assets sit in a highly transit-oriented area and, at 141,000 square feet, encompass the largest office campus in downtown Rockville Center, N.Y.<\/p>\n","protected":false},"author":241,"featured_media":1004223837,"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":[32792,32882,36639],"class_list":["post-1004223834","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-hff","tag-investcorp","tag-northwell-health"],"acf":[],"yoast_head":"\nInvestcorp Sheds Long Island Office Complex - 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\/investcorp-sheds-long-island-office-complex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investcorp Sheds Long Island Office Complex\" \/>\n<meta property=\"og:description\" content=\"The assets sit in a highly transit-oriented area and, at 141,000 square feet, encompass the largest office campus in downtown Rockville Center, N.Y.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/investcorp-sheds-long-island-office-complex\/\" \/>\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=\"2018-04-25T14:11:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/3638.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\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\/investcorp-sheds-long-island-office-complex\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/investcorp-sheds-long-island-office-complex\/\",\"name\":\"Investcorp Sheds Long Island Office Complex - 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