The site is a 212,390-sf class B+ office building which the Investcorp/Lincoln JV purchased in March 2001 for $31 million. At the time of that sale, the property was nearly 100% leased to such tenants as Aetna, Rosenbaum Design Group and AT&T Wireless.

Developed in 1979, 2001 Marcus Ave. consists of one three-story multi-tenanted office buildings on 8.6 acres. Presently, the property is 98% occupied by a variety of office and medical related tenants. The property is located approximately 15 miles east of Manhattan, adjacent to the Queens/New York City border.

The Investcorp/Lincoln partnership was represented exclusively in the transaction by the Metropolitan Area Financial Services Group of Cushman & Wakefield.

The sale of 2001 Marcus Ave. represents the New York-based Investcorp's 16th property sale in 2003, and brings the value of the firm's total real estate realizations this year to approximately $435 million. Recent sales include the Fountains at Waterford Lakes in Orlando for $35.1 million and the $102 million sale of 150 Fifth Ave. in New York City, both in September. October saw the group selling Horizons at Peccole Ranch Apartments in Las Vegas for more than $27 million.