Ivy Realty branches out with first LI deal.In a transaction arranged by the Long Island office of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. , Ivy Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. has acquired two suburban office parks. The company has purchased Crossroads Executive Center and Crossroads Corporate Center, comprised of approximately 400,000 square feet of space. The acquisition price was not disclosed. The CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) team of Steven Bardsley, Martin Lomazow and Robert Seidenberg represented the seller in the negotiations. Ivy Realty was represented by Adam Brodbar, Vice President of Investments for Ivy. Mr. Lomazow and Mr. Seidenberg, who have been the exclusive agents for both office parks for the past 14 years, along with Peter Obre have been retained as leasing agents by Ivy Realty. "This transaction further demonstrates Long Island's strong investment sales market," said Mr. Seidenberg. "Over the past year, the market experienced more activity than the previous two years combined--a trend that is continuing into 2004." Located south of the Long Island Expressway on Veterans Highway in Islandia, NY, Crossroads Executive Center consists of nine one-story office buildings. Crossroads Corporate Center is situated just one mile north on Veterans Highway in Hauppauge and contains three single-story properties and one Class A multi-story building. Ivy Realty is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Ivy Equities, an investment firm based in Montvale, New Jersey Montvale is a borough in Bergen County, New Jersey, United States. As of the United States 2000 Census, the borough population was 7,034. Montvale was incorporated as a borough on August 31, 1894, from portions of both Orvil Township and Washington Township, at the height . Ivy Realty owns and manages 4 million square feet of commercial space in 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 , New Jersey and Connecticut. This is Ivy Realty's first acquisition in the Long Island market. |
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