Crossroads Executive Center has nine one-story offices and is located south of the Long Island Expressway on Veterans Highway in Islandia. Crossroads Corporate Center is just one mile north on Veterans Highway in Hauppauge and contains three single-story properties and one class A multi-story building.

The CBRE team of Steven Bardsley, Martin Lomazow and Robert Seidenberg arranged the transaction and represented the seller, while Ivy Realty was represented by Adam Brodbar, vice president of Investments. Lomazow tells GlobeSt.com that Ivy had been searching for a Long Island acquisition, adding that the seller, who was undisclosed, prefers to "refocus efforts on other opportunities."

"This transaction further demonstrates Long Island's strong investment sales market," notes Seidenberg, adding that over the past year, the market experienced more activity than the previous two years combined--a trend that he sees continuing into 2004. Lomazow and Seidenberg, who have been the exclusive agents for both office parks for the past 14 years, along with Peter Obre have been retained as leasing agents by Ivy Realty. Lomazow categorizes the current situation at the sites as being "substantially leased."