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CBRE Represents TPG Angelo Gordon in Sale of Offices on Long Island’s North Shore

The CBRE team of Jeff Dunne, Steve Bardsley and Travis Langer, in collaboration with Philip Heilpern of CBRE’s Long Island office, completed the $22.5-million sale of the leasehold interest in 50 Jericho Quadrangle in Jericho, NY. CBRE represented the seller, AG-WE’RE 50 Jericho, LLC, a partnership managed by an entity of TPG Angelo Gordon. The team also procured the buyer, MDJ 50 Jericho Quad LLC, an entity managed by MDJ Realty Services.

50 Jericho Quadrangle is a Class A office building spanning 145,189 square feet. Currently 76% leased, it’s anchored by Grassi & Co. The building is in western Nassau County, which has a competitive set availability rate of just 9%. Its location provides access to the strong amenity base and executive housing along Long Island’s North Shore.

Dunne said, “50 Jericho Quadrangle is well-positioned in a historically strong market to lease the existing vacancy, creating significant upside for the new ownership.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).

  • ◦Sale/Acquisition
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