CBRE announced today the $28.5 million sale of 5000 Corporate Court—a two story, 264,482 sq. ft. 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 Court is located within minutes of 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 large floor plates, abundant parking (7 spaces/1,000 sq. ft.), and
economical 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,”
added Gershon Alexander, Principal at Northpath Investments.
CBRE Institutional Properties is marketing a number of attractive investment opportunities including:
The Woodbury Portfolio, a six-building, 719,317 sq. ft. office portfolio, Woodbury, NY; One East
Putnam Avenue and One Lafayette Place, a two-building, 90,168 sq. ft. CBD portfolio, Greenwich, CT;
33 Riverside Avenue, a 91% leased, 42,432 sq. ft. waterfront property, Westport, CT; and 1311 Mamaroneck Avenue, a 310,882 sq. ft. office building in White Plains, NY.