“This is another very attractive portfolio for investors seeking multiple assets or 1031 exchange, as the properties are diversified by location within the strongest growth market in the US–and fully occupied on a long-term basis by Citibank, a company which is rated AA+ by Standard & Poor's and Aaa by Moody's,” Zakin remarks.

He goes on to say, “this is an attractive portfolio because of the great credit, great locations, long-term leases and stable cash flow with annual increases. In a market that is seeing clear flight to quality, the diversification and credit nature of these transactions has made this a very desirable transaction,” he notes.

“Also, since we are prepared to break up the portfolio into sub-portfolios, it will also be very attractive to 1031 exchange buyers as we may be able to address their specific financial requirements.” He notes that as with the first transaction, there was large response from New York City-based investors, net lease buyers and 1031 exchange buyers.

Zakin says that the properties range in size from 2,000 sf to 8,000 sf. He also details to GlobeSt.com that there are 20 properties in Nassau, eight in Suffolk, three in Queens, four in Brooklyn, three in the Bronx, three in Statin Island, five in Westchester and one in Upper Manhattan.

Other members of the NKF sales team for the Citibank portfolio are Neil Goldmacher, EVP; Geoffrey Rockhill, senior managing director; Randall Liberman, associate, and Justin DiMare, associate. Richard P. O'Day, director in Investment Banking, leads the Citigroup Global Markets team.