HOLTSVILLE, NY-Publicly-traded REIT Piedmont OfficeRealty Trust has closed the sale of 5000 Corporate Courtin Holtsville, NY to an institutional investor for $39.25 million,the company confirmed on Thursday. Jones LangLaSalle’s managing director JoeGaribaldi, whorepresented the owner, tells GlobeSt.com that he cannotdisclose the investor due to confidentiality agreements,but Real Capital Analytics lists thebuyer as Newton, MA-based Government Properties IncomeTrust, a REIT that focuses on federal and state governmentassets.

Garibaldi, along with JLL's New York Capital Markets team,managing director Peter Nicoletti, vicepresident Tom Walsh and executive vice presidentand head of the firm’s Long Island office, RayRuiz, represented the owner. Piedmont's WilStone, senior vice president of capital markets alsorepresented the owner on the transaction.

The building was designed in 2000 to meet the needs of the USGeneral Service Administration. The 37-acre site is primarilyleased to three GSA tenants, which Garibaldi says has generated a“great deal of interest” from government REITs and privateentities.

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