CLK, Houlihan partners buy $300m LI package.In a deal valued at more than $300 million, two local real estate investors A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. , CLK CLK Clock CLK Clerk CLK CDC2-Like Kinase CLK Corel RAVE (file extension) CLK Chep Lap Kok (Hong Kong airport) CLK Ceska Lekarska Komora (Chech) Management of Great Neck, N.Y., and Houlihan-Parnes, of White Plains, N.Y., announced that they have closed on one of the largest single office park acquisitions in the history of Nassau county Nassau County is the name of two counties in the United States of America:
The private joint venture of CLK/ Houlihan-Parnes bought the entire existing Tilles family portfolio, consisting of more than 2 million s/f in 43 buildings, including two development sites in two contiguous first class office parks in Woodbury. Included in the acquisition is the newly finished and vacant four-story, 125,000 s/f class A office building located at 135 Crossways Park Drive, which is now available for lease. The sale does not include the Pumpkin Farm land, which is still owned by the Tilles family. The new owners of the Woodbury Office Parks intend to manage and lease the portfolio internally. The partnership will invest significant capital to upgrade the buildings and parks. James Houlihan, of Houlihan-Parnes, noted that, "Our experience over the past five years has shown us that acquiring, managing and leasing suburban properties throughout the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of region is a great business to be in as long as we are aggressive in our capital programs. We will improve everything from lobbies to bathrooms to landscaping and security systems." Coupled with the partners recent acquisition of nine class A office buildings in Great Neck, Roslyn and Garden City, CLK/Houlihan-Parnes has become a dominant player on Long Island and one of its largest commercial owners. The CLK/ Houlihan-Parnes combination has acquired over a billion dollars worth of multi-family real estate throughout the country. The partnership is set to acquire more properties in the area. The portfolio is 96% occupied and immediately gives the buyers a dominant market share in eastern Nassau, one of the country's strongest and most sought after sub-markets. Nassau county, and more specifically eastern Nassau, have among the lowest vacancy rates in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The vacancy rate in Woodbury and its immediate surroundings is less than 5%. The properties consist of more than 1.4 million s/f in 31 buildings in the Crossways Office Park, and 12 buildings and more than 700,000 s/f in the Gateways Office Park. Some of the better known buildings are 1000 Woodbury Road, 88 Froelich Farm, the Equinox equinox (ē`kwĭnŏks), either of two points on the celestial sphere where the ecliptic and the celestial equator intersect. The vernal equinox, also known as "the first point of Aries," is the point at which the sun appears to cross the Building and 7600 Jericho Turnpike turnpike, road paid for partly or wholly by fees collected from travelers at tollgates. It derives its name from the hinged bar that prevented passage through such a gate until the toll was paid. See also road. . Prominent tenants include Cablevision, North Fork Bank North Fork Bank was an American bank headquartered in Melville, New York purchased by Capital One at the end of 2006 for $14.6 billion U.S. dollars. It was only the second bank bought by Capital One, and was the larger of two acquisitions comprising Capital One's 2005-06 expansion , Mass Mutual and Wachovia. The sellers were represented by Ken Ziebelman and Adam Spies, of Eastdil Realty; the partnership of CLK/Houlihan Parnes represented itself. |
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