Executive directors Eric M. Anton and Ronald A. Solarz and financial analyst Paul J. Nigido of Eastern Consolidated Inc., based in New York City, brokered for the deal for Andalex. Jones Lang LaSalle VP Dan de Palma represented the buyer. On the legal end, Mark Follender of Scarinci Hollenbeck represented the seller, and Sid Patel Esq. represented the buyer.
Built in 1983, 200 Centennial Ave. is a two-story building totaling 68,156 sf. Originally built in 1960, the one-story, 70,451-sf 220 Centennial Ave. was completely renovated in the 1980s and features separate entrances for tenants Rocheux International and Ford Motor Corp. Availabilities at the two buildings are currently listed with an asking price of $15.50 per sf.
"The buildings have direct access to the fiber optic trunk situated underneath Centennial Ave., and are ideally situated for high-tech and telecom users," Anton says. "That was a driver in the deal."
The property also contains a recently vacated 46,469-sf unit with a back-up power generator and a large computer installation. The renovated unit "was completed in 1996 at a cost of $2 million," Solarz says.
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