Squadron Partners LLC report that the firm has sold 18 Squadron Blvd., a 53,000-sf office building and 20 Squadron Blvd., a 60,000-sf building to AKW Holdings LLC of New City. The deal was reported by Corey B. Rabin, Esq., of White Plains and Steven R. Smallheiser of Armonk, co-managing partners of Squadron Partners LLC. Gabriel Alexander is managing partner for the new owner of the properties. Union State Bank provided mortgage financing for the transaction.

No purchase price for the buildings located on Route 304 was released by either party.

The 20 Squadron Blvd. building is fully leased and hosts 35 tenants, including a Citibank branch, an outpatient facility of the U.S. Veterans Administration and headquarters for international non-profit Aces World Sector.

The 18 Squadron Blvd. property features a 33,000-sf Mid-Rockland Imaging medical diagnostic center. The facility also serves as the firm's northeast regional headquarters. The company is a subsidiary of Radiologix of Dallas, which owns and operates 120 imaging centers in 18 states and the District of Columbia. Prior to 1988 the building was used as a tennis fitness center.

Smallheiser says that negotiations are underway with Kiddie Academy Inc. of Bel Air, Md., to lease a 10,000-sf childcare facility at the 18 Squadron Blvd. property in the first half of this year.

Squadron Partners, which had owned the two buildings since 1986, continues to control five acres of commercially zoned property adjacent to the two buildings. The company hopes to build two office buildings of 25,000 sf and 35,000 sf at the site in the future. To date, the firm has not submitted any plans to build the facilities as yet.