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30-acre Sutton Park campus sold.

In one of the largest commercial real estate transactions so far this year in Westchester County, Louis Dreyfus Property Group announced today the sale of Sutton Park, a 30-acre corporate office park featuring a 100,000-square-foot office building.

Diamond Properties of Valhalla purchased the property for an undisclosed price.

Diamond Properties owns and manages 400 Columbus Avenue, 141,000-square-foot office complex near Sutton Park.

Located at 465 Columbus Avenue in Valhalla, Sutton Park North is a three-story office building with enclosed parking.

An additional 120,000-square-foot building is planned for the heavily wooded site.

Sutton Park North was named "The Office Building of the Year" (TOBY) in 1997 and 1999 by the Building Owners and Managers Association of Westchester County.

Louis Dreyfus Property Group acquired Sutton Park in 1988. Sutton Park North is currently 97 percent occupied. Tenants in the building include the New York City Department of Environmental Protection, Beth Israel Medical Center, Gallagher Benefits Group and Hudson River Group Inc.

The building features an onsite cafeteria and abundant below grade parking to preserve the natural beauty of the property.

James Kuhn, David Noonan, Patricia Valenti and Jennifer Schwartzman of Newmark & Company Real Estate, Inc. represented the seller in the transaction, said David J. Friedman, northeast regional vice president of Louis Dreyfus Property Group.

Carl Austin and Phil Luria of Austin Corporate Properties of Rye Brook represented the buyer in the transaction.

Austin Corporate Properties originally handled the sale of Sutton Park to Louis Dreyfus Property Group.
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Title Annotation:Westchester
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Jul 7, 2004
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