Wading River, NY Ron Kleinberg and Dale Staudigel, co-presidents of Tri-State Properties, brokered the sale of The North Wind Professional Park located at 5970 – 5976 Route 25A.
The sale price was $4.975 million.
The four, one-story commercial buildings total 26,000 s/f on four acres, with 120 parking spaces. The buildings were 100% occupied at the time of sale.
Kleinberg and Staudigel represented the owner, TAB Professional, LLC, as well as the purchaser, who wishes to remain anonymous.
According to Kleinberg, “TAB Professional, LLC, headquartered in Suffolk County, developed the professional park and owned and managed for the past 20 years. The purchaser was a logical fit for the buildings as his firm historically has been a buy & hold investor looking for commercial properties with bond-like returns.”
Staudigel said, “Suburban office buildings today are an attractive investment. Office leases typically can run for 5-10 years providing an investor with a predictable revenue stream, without the cost of tenant improvements and loss of income due to tenant turnover.”
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