Jones Lang LaSalle has completed two deals, totaling 12,975 s/f, for building owner Tech 4 LLC, a subsidiary of Tritec Real Estate Co., at 4 Technology Dr. OCLI Realty LLC acquired a 5,156 s/f medical condominium unit for an undisclosed amount, and Stony Brook Children's Services signed a long-term lease for 7,819 s/f at the class A, 40,000 s/f medical office building.
Building owner Tech 4 LLC was represented in both transactions by Raymond Ruiz, executive vice president and head of Jones Lang LaSalle's Long Island office; Marianne Dugan, vice president; and Doug Seale and Brian Cruz, associates. Buyer OCLI Realty Inc. was represented by William Yorio , executive vice president, with Corporate National Realty. Tenant Stony Brook Children's Services was represented by Lee Rosner, managing principal, with Coldwell Banker Commercial Rosner.
"With these two transactions, Jones Lang LaSalle has brought 4 Technology Drive to 100% leased or owned," said Ruiz. "The demand for medical office space in close proximity to Suffolk County hospitals and health networks continues to outpace the demand for non-medical professional space. Newly constructed, modern medical facilities throughout Long Island have shown resiliency in what continues to be a challenging real estate market."
OCLI Realty Inc. is the real estate arm of Ophthalmic Consultants of Long Island, a group of Long Island board-certified ophthalmologists. The firm bought a 5,156 s/f medical office condominium on the ground floor at 4 Technology Dr., which is located within the 100-acre Stony Brook Technology Center, near the intersection of North Belle Mead Road and Nesconset Highway.
Stony Brook Children's Services is a pediatric practice affiliated with University Hospital at Stony Brook. In August, the tenant signed a long-term lease for 7,819 s/f on a portion of the second floor at the building. Tags: