A joint venture between Summit Development and Crestline Investors sold The Medical Offices at Chappaqua Crossing, a 490,000 square foot property in Chappaqua, New York for $40 million. The Atkins Companies and Denholtz Properties purchased the property.
The complex anchored by Northwell Health and CareMount Medical (formerly Mt. Kisco Medical Group). Northwell and CareMount have a significant presence nearby, making Chappaqua Crossing a strategic location for both health systems.
The property is situated in a newly developed and town center community, which also includes a 120,000 square foot Whole Foods and Life Time Fitness anchored retail center, 64 multifamily units, 91 luxury townhouses currently under construction by Toll Brothers, and the Chappaqua Performing Arts Center. Chappaqua Crossing is the mixed-use redevelopment of the former Reader's Digest World Headquarters, which contains 114 acres and took over 15 years to develop.
The CBRE team of Jeffrey Dunne, David Gavin, Steve Bardsley and Travis Langer represented the seller. In addition to the sale of the Medical Offices at Chappaqua Crossing, CBRE also completed the sale of the adjacent Whole Foods-anchored retail center at Chappaqua Crossing, also developed by Summit Development.
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