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Colin Development Sells Veterans Memorial Highway Office Portfolio

Signature Acquisitions Expands Portfolio by 346,000 SF
December 1, 2017
Colin Development sold a portfolio of three office buildings at 878-898 Veterans Memorial Hwy in Hauppauge, NY for $61 million, or about $176 per square foot, to Signature Acquisitions.

Totaling 346,000 square feet, the three buildings are located in the Western Suffolk submarket of Long Island. Each property was at least 95 percent occupied at the time of the sale, with Allstate, Morgan Stanley and The Bridgehampton National Bank as current tenants.

Jeffrey Dunne and Steven Bardsley of CBRE represented the seller. The buyer handled the sale in-house.

Please see CoStar COMPS #4057731 for more information on the transaction.
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