Heilpern, Lomazow and Manoogian of CBRE broker $7.4 million sale of 75,000 s/f office/flex property

Martin Lomazow, CBRE

Philip Heilpern, CBRE

Hauppauge, NY The CBRE team of Phillip Heilpern, Martin Lomazow and Matt Manoogian arranged the $7.4 million sale of 70 Corporate Dr., a 75,000 s/f office/flex property. CBRE represented CSHV Corporate Drive, LLC, a subsidiary of a public pension fund, in the sale of the property to a private investor. Michael Aievoli of JLL represented the buyer.

The seller originally purchased 70 Corporate Dr. more than a decade ago through a sale/leaseback with Citibank. In March 2016, CBRE arranged a lease for the entire property to HTx Services LLC, a global information technology and ATM services company. The lease, which was one of Long Island’s largest transactions last year, allowed HTx to expand its operations on Long Island.

70 Corporate Dr. is one of finest buildings in the Hauppauge submarket. In addition to its great curb appeal, the two-story property is ideally located directly off the Northern State Pwy. and the Long Island Expressway. Located within a 62-acre complex, the property offers electric power reserves and 240 parking spaces.

According to Heilpern, “70 Corporate Dr. is in one of Long Island’s most prestigious industrial/flex office parks and we were thrilled to have been able to find the ideal tenant for the space, but also to market such a great asset to the investment community.”