CBRE Closes Sale of Holtsville Offices to Northpath
CBRE closed the $28.5-million sale of 5000 Corporate Ct., a two story, 264,482-square-foot. office building in the hamlet of Holtsville and the town of Brookhaven, NY.
Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, Stuart MacKenzie and Travis Langer of CBRE’s Institutional Properties Group, in collaboration with Philip Heilpern of CBRE Advisory & Transaction Services, represented the seller, Office Properties Income Trust, an entity managed by The RMR Group. They also procured the buyer, Northpath Investments.
5000 Corporate Ct. is located within minutes of Exit 62 off the Long Island Expressway. The property is anchored by GSA tenants, including the Internal Revenue Service and U.S. Citizenship and Immigration Service.
“5000 Corporate Ct. will complement Northpath’s other asset, Brookhaven Professional Center,” said Bardsley. “The property’s expansive floor plates can meet larger tenant requirements, while Brookhaven Professional Center can cater to a smaller tenant profile.”
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).