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Brokerage
Posted: April 5, 2016
Ceppos, Jinishian, Gutierrez and Paktinat of Colliers and Weisman of Lee & Associates sell Westchester office building for $4.75 million
466 Saw Mill River Road - Ardsley, NYArdsley, NY Colliers International has arranged the $4.75 million sale of a flex office building located at 466 Saw Mill River Rd. on behalf of G&G Instrument Corp. Avon Development Enterprises Corp. was the buyer.
The 59,000 s/f, three-story property, built slab-on-grade into the side of a hill and includes dock access for all three levels, was developed in 1968 by G&G, which used to occupy space in the building.
Ian Ceppos, senior managing director at Colliers, who along with vice chairman Alex Jinishian, executive managing director Al Gutierrez, and associate Cameron Paktinat exclusively represented G&G in the transaction.
“Flex office buildings in Westchester County, with dock access on all floors, are few and far between and G&G Instrument Corporation did a great job of maintaining this quality asset,” said Ceppos.
Gutierrez said, “Because of the product type, building location, flexibility to multi-tenant, and size we were able to generate a great deal of interest from multiple users and investors. Ultimately, new ownership will benefit greatly from these property attributes in accommodating a variety of users, in a tight market.
Alan Weisman, of Lee & Associates, represented the buyer in the transaction.
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