Hauppauge, NY Holliday Fenoglio Fowler, L.P. (HFF) has completed the $16 million sale of 330 and 350 Motor Pwy., two four-story office buildings with a combined 131,223 s/f. The HFF team marketed the property on behalf of the seller, KABR Group and Capstone Realty Group, and procured the buyer, Long Island-based Valley East Management.
330 and 350 Motor Pwy. are situated off the Long Island Expressway/I-495 in western Suffolk County. This amenity-rich location is within minutes of the Northern State Pwy., Sagtikos Pwy. and Southern State Pwy., which all provide access throughout L.I., Manhattan and the other NYC boroughs. Originally built in 1971 and renovated between 2012 and 2016, the two-building complex is 94% leased to a 41-tenant roster in industries such as law, accounting and financial services. Building amenities include a full-service cafeteria, fitness center with locker rooms, shared conference rooms, tenant storage areas and a high parking ratio of 4.4 spaces per 1,000 s/f.
The HFF investment advisory team representing the seller included senior managing directors Jose Cruz, Kevin O’Hearn and Andrew Scandalios and senior directors Stephen Simonelli and Michael Oliver.
“The diversity in the rent roll and the infill location were the two most important aspects of the properties for investors,” said Cruz.