Oxford & Simpson Realty Services, Inc., one of the leading Long Island Commercial Real Estate services firms, arranged a property sale at 569 Broad Hollow Rd. between Flowers Baking Company of Biddeford and Roanoke Realty Partners. The transaction originated when Greg DeRosa, principal of Roanoke Realty Partners, walked into a meeting to discuss tenants in the Melville marketplace for one of his office properties located at 575 Broadhollow Road. At the end of the meeting, Mr. DeRosa walked out with an acquisition opportunity.
Oxford & Simpson utilized different tools to study the area and advise on new ways to market the building, which led to a discussion about the characteristics of the surrounding property. Paul Amoruso, founder of Oxford & Simpson Realty Services, briefed the group on various market trends which would create substantial value for the owner of the adjacent lot at 569 Broadhollow Road, a former Hostess Brands property. Valuing the opportunity for increased exposure, additional parking, and future development options, Mr. DeRosa gave the group the green light to pursue the site, which was not on the market at the time. Paul Amoruso, Michael Ciotta and Matthew Tesoriero of Oxford & Simpson worked closely with Flowers Baking Company to facilitate the transaction, which was worth over $2 million.
"This transaction was unique because the meeting started with a leasing discussion, but ended with an off-market transaction in which both parties benefited greatly," said Amoruso. "With our unique acquisition and development expertise, we were able to find the deal within the deal." Tags: