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Birch Group Closes LI’s Largest Office Deal in Years
In what it calls Long Island’s largest office deal of the past decade, The Birch Group has acquired 1 and 2 Jericho Plaza in Jericho, NY for $212 million. The sellers were DRA Advisors and Onyx Equities.
The area reportedly boasts the New York City suburban region’s lowest office vacancies. Tenants at 1 and 2 Jericho, which total 665,592 square feet, include AIG, Deloitte, Morgan Stanley, EY, Valley Bank, Sterling National Bank and UBS.
“As we look ahead to the coming months, we believe companies will place a renewed interest in providing top-notch office experiences and spaces where people want to be,” said Mark Meisner, president and founder of The Birch Group. “Our focus remains on enacting tailored improvements strategies on a case-by-case basis to create long-lasting returns for our tenants and investors alike.”
The Birch Group has acquired more than $1.1 billion of commercial office assets since 2020.
- ◦Sale/Acquisition
