HFF closes $15.75 million sale of 239,320 s/f Salina Meadows campus

Rob Rizzi, HFF

Salina Meadows office park - Syracuse, NY

Jose Cruz, HFF

Syracuse, NY Holliday Fenoglio Fowler, L.P. (HFF) has closed the $15.75 million sale of Salina Meadows, a four-building, 239,320 s/f, class A office park.

HFF marketed the asset on behalf of the owner, Second City Real Estate.  A local investor, who owns 250 South Clinton, among other area properties, purchased the asset. 

The HFF investment sales team representing the seller was led by managing director Rob Rizzi, senior managing director Jose Cruz, managing director Kevin O’Hearn, director David Fowler and associate director Michael Oliver.     

Salina Meadows consists of 200, 220 and 231 Salina Meadows Parkway and 301 Plainfield Rd., which are collectively 85.2% leased. 

Situated on 21.61 acres at the crossroads of I-81 and I-90, Salina Meadows is near downtown, Hancock International Airport and DestinyUSA Mall.   

“Salina Meadows is one of the premier office parks in Upstate New York.  The offering presented an investor with a well-leased, cash flowing asset at an exceptional cost basis with a strategic location in the Syracuse market,” said Rizzi.

Major tenants at the park include Traveler’s Indemnity Co., Mutual of Omaha Insurance Co., Walgreen Co. and Acadia Insurance Co.  The property features large, efficient floor plates; expansive windows; ample parking (1,225 spaces); a fitness center; common conference facilities and a full-service café/deli.