NKF Capital Markets Announces Sale of Brookhaven Executive Center in Medford, NY
NKF Capital Markets is pleased to announce that Kevin Welsh, Brian Schulz, Chuck Kohaut and Jason Emrani of the firm’s Tri-State Capital Markets Team in collaboration with Scott Berfas, Dan Oliver and Jordan Oliver from NKF’s Mellville NY office, represented a financial institution in the 100% interest sale of Brookhaven Executive Center, a 53% leased 10-building office park totaling 155,079 SF. The team was also responsible for procuring the buyer, PAG Investments LLC a private real estate investment firm.
Situated on a 15-acre campus, the Property’s single story design with flexible configurations and 6.1/1,000 SF parking has attracted a diverse roster of professional and medical users seeking distinct and branded entrances within a campus setting. The Property’s location on Route 112 and 1.2 miles north of the Long Island Expressway/I-495 (Exit 64) provides multidirectional access throughout Long Island as well as to major medical institutions.
“BEC is one of the of the only office parks in Central Suffolk County providing on-site amenities including property management, food service (deli/café), and daycare, positioning the asset for long term success” said Schulz, managing director. “PAG Investments will control a critical mass of office/medical space and continue to enhance the Property in addition to the more than $2 million in upgrades that have been invested since 2014”.
About NKF Capital Markets
NKF Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.