CBRE completes $22.5 million sale of leasehold interest in 50 Jericho Quadrangle

Jericho, NY The CBRE team of Jeff Dunne, Steve Bardsley and Travis Langer in collaboration with Philip Heilpern of CBRE’s Long Island office completed the $22.5 million sale of the leasehold interest in 50 Jericho Quadrangle. CBRE represented the seller, AG-WE’RE 50 Jericho, LLC, a partnership managed by an entity of TPG Angelo Gordon. CBRE also procured the buyer, MDJ 50 Jericho Quad LLC, an entity managed by MDJ Realty Services.  

50 Jericho Quadrangle is a Class A office building containing 145,189 s/f of space that is 76% leased and anchored by Grassi & Co. The building is in western Nassau County. 50 Jericho Quadrangle is at the confluence of the Long Island Expwy. and Jericho Tpke., providing access to the amenity base and executive housing along the north shore of Long Island.  

CBRE vice chairman Jeff Dunne said, “50 Jericho Quadrangle is well-positioned in a historically strong market to lease the existing vacancy, creating significant upside for the new ownership.”