LI Office Trio Trades for $50M

GARDEN CITY, NY- A joint venture between Investcorp International Inc. and Lincoln Equities Group LLC has purchased a trio of Nassau County office properties totaling 372,544 square for $50 million. HFF represented the undisclosed seller, which traded the portfolio free and clear of existing debt, and arranged financing. 

The portfolio has undergone more than $5 million in capital improvements since 2003 and is 93% leased. They include the 120,238-square-foot 666 Old Country Rd. in Garden City, which is 98% leased; 114 Old Country Rd. in Mineola,  where the 114,356 square feet is 95% leased; and the two-building 100 Merrick Rd. in Rockville Centre, which totals 137,950 square feet that’s 87% leased.