Ruiz, Dugan, Seale, Thompson and Fahey of JLL arrange $4.5 million sale; Represents seller, GSI Group; Buyer, Tritec Real Estate, in house represented by Kent

Jones Lang LaSalle has completed the sale of 41 Research Way for Massachusetts-based GSI Group Inc. Tritec Real Estate Co. Inc. acquired the 65,000 s/f office and research and development facility for $4.5 million. The seller, GSI Group, was represented by Ray Ruiz, executive vice president with JLL's Long Island office; Marianne Dugan, vice president; and Doug Seale, associate, along with Tamie Thompson and Rick Fahey, managing directors, with JLL's Boston office. The buyer, Tritec Real Estate, was represented in-house by Robert Kent, vice president and general counsel. "Given the historic low vacancy at the 1 million s/f complex in which the facility is located, it was logical for Tritec Real Estate Co., as master developer of the park, to acquire the building," said Ruiz. "The acquisition provides a tremendous opportunity to occupiers seeking tenancy in this highly desirable area of Suffolk County's North Shore." The partial two-story 41 Research Way building is the former headquarters of Quantronix Inc., a subsidiary of GSI Group. The specialty office and research and development building is located on 5.87 acres in the North Shore of Suffolk County's commercial and technological business district and is a few blocks from Stony Brook University Medical Center. The building is visible within the Stony Brook Technology Park and offers access to Nicolls Rd. (CR-97) and Nesconset Hwy. (Rte. 347). Since expanding its office on Long Island in early 2010, JLL has sold more than 1 million s/f in investment properties and commercial real estate throughout the market.