Nassau County Office Building Sells for $76M
- May 16, 2017
JOSS Realty Partners has sold 60 Charles Lindbergh Blvd., in Uniondale, N.Y. for a reported $75.5 million. The building is fully occupied through 2036 by Nassau County’s Department of Health and Human Services. CBRE Vice Chairman Jeffrey Dunne, Senior Vice President David Gavin, Travis Langer, Vice President Philip Heilpern and Senior Vice President Martin Lomazow acted on behalf of the owner. Vice President Will Bradley represented the buyer, Salus Federal Properties, a company specializing in the acquisition and management of properties leased to federal agencies. The asset last traded for $62 million in 2007, according to public records. Through the disposition of the building, JOSS Realty Partners paid off a $54.5 million CMBS loan that matured this February, PropertyShark data shows.
The two-story, 217,226-square-foot structure was built in 1982 and sits on 7.8 acres. It also features 450 parking spaces and is located adjacent to Mitchel County Park, within walking distance of retail centers such as Stewart Plaza and Roosevelt Field, museums, Nassau Community College, Hofstra University and Long Island Marriott. The property also is close to the Long Island Expressway, Northern State Parkway, Southern State Parkway, Hempstead Turnpike, Carle Place and Mineola Long Island Railroad stations.
“60 Charles Lindbergh provides an irreplaceable location for Nassau County, as demonstrated by their recent renewal and long-term commitment to the property,” Dunne said in a prepared remark. “The acquisition of 60 Charles Lindbergh will provide secure, long-term cash flow and is a great addition to Salus’ portfolio.”
Image courtesy of JOSS Realty Partners