172,000-SF Investment Property Changes Hands

JERICHO, NY-CB Richard Ellis’ Long Island office arranged the sale of 200 Robbins Ln. here. Formerly owned by 200 Rob LLC, the 172,000-sf investment property was acquired by 200 Robbins Ln. LLC, a company controlled by the Beechwood Organization, for approximately $18 million.

The single-story building is a multi-tenanted industrial facility and has 20-foot ceiling heights, as well as drive-in loading docks and 11.76 acres of parking. The building has access to the Long Island Expressway and is in close proximity to Northern State Parkway.

The transaction demonstrates the positive outlook for Long Island by investors, even with tighter financing requirements, according to a prepared statement by CBRE. The CBRE team of Philip Heilpern, Richard Karson, Martin Lomazow and David Zelinski arranged the sale of the property on behalf of the seller, in direct negotiations with the buyer. The firm could not be reached for further information by deadline.

“We are pleased to have represented 200 Rob LLC in this disposition,” says Lomazow in a prepared statement. “And, given the turmoil in today’s capital markets, it was a pleasure to work with a seller and buyer that understood that cooperation and flexibility was needed in order to get the sale closed.”