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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).