400,000+ SQ FT OFFICE BLDGS

Auction by: Maltz Auctions

Estate Auction

400,000+ Sq Ft Office Portfolio – 2 Complexes – 13 Buildings

Sealed Bid Auction

Begins: Tuesday, December 11, 2018 at 5:00 PM EST

Location: Central Islip, NY 11722

Details

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Estate Auction

400,000+ Sq Ft Office Portfolio – 2 Complexes – 13 Buildings

Prime Location Near the Long Island Expressway  – Sold in Bulk Only 

Details:

  • Matrix Corporate Park: 1363, 1373, 1383 & 1393 Veterans Memorial Highway, Hauppauge, NY 11788
  • Matrix Executive Park: 1707, 1717, 1737, 1747, 1757, 1767, 1777, 1787 & 1797 Veterans Memorial Highway, Islandia, NY 11749
  • 405,208 Sq Ft of Class A & B Office Space
  • $51,200,000 Minimum Bid
  •    $42,818,730 Assumable Mortgage – 5.22% Fixed Interest Rate Through September of 2025
  •        Subject to Lender’s Assumption Requirements (See Documents Tab)
  •        If Buyer Does Not Assume Loan it Shall be Responsible for the $7,043,000 Defeasance Payment (As of April, 2018)
  • Extensive Information Available in Data Room to Qualified Bidders.  Please email [email protected] with Participation Requirements (Proof of Funds & Executed Confidentiality Agreement) for Consideration & Access.

Matrix Corporate Park (214,156 Sq Ft on 16.5+ Acres):

  • 1363-1383 Veterans Memorial Highway, Hauppauge, NY:
  • 75,758 Rentable Sq Ft 
  • 8.17 Acres with 295 Parking Spaces
  • 3 Single Story Office Buildings:
  •     25′ Column Spacing Throughout
  •     25′ x 50′ Atrium Space
  •     Slab to Deck Heights of 12.5′, Finished Ceiling Heights Average 9′
  •     Rooftop HVAC Units Supply Heat and Air Conditioning
  •     2000 Amp 3-Phase 120/208 Electrical Service
  •     ADA Compliant
  •     Built in 1986-1989
  •  
  • 1393 Veterans Memorial Highway, Hauppauge, NY:
  • 138,398 Rentable Sq Ft
  • 8.35 Acres with 487 Parking Spaces Including Two-Level Parking Garage
  • Four Story Class “A” Multi-Tenant Office Building 
  •     Three 4,000 lb Capacity Dover Elevators
        Rooftop HVAC Units Supply Heat and Air Conditioning (Each Unit has its Own VAV System Tied into the Trane Building Management System)
  •     (2) 2000 Amp Switch Gears 3 Phase Electrical 277/480
  •     Simplex 4002 Multiple Zone Fire System (with Backup Generator)
  •     Simplex 4004 Multiple Zone Fire System Installed in Parking Garage
  •     ADA Compliant Ramps and Bathrooms
  •     Interior & Exterior Security Cameras
  •     Building Amenities Include: Fitness Center, Conference Room, Cafe with Indoor/Outdoor Seating & Tranquility Fountain
  •     Built in 1990
  •  
  • General Information for Matrix Corporate Park:
  • LED Street Lights Throughout Interconnecting Parking Lots
  • Accessible Directly from Veterans Memorial Highway or Spartan Lane
  • Adjacent to North Shore Farms Shopping Center, Tenants Include: North Shore Farms, AT&T, Dunkin Donuts, Pearl Vision and Others
  • 2,000′ North of I-495 Entrance
  • Daily Traffic Count of 31,400+ Vehicles   
  • 5 Miles to Long Island MacArthur Airport

 

Matrix Executive Park (191,052 Sq Ft on 14.29 Acres):

  • 1707, 1717, 1737, 1747, 1757, 1767, 1777, 1787 & 1797 Veterans Memorial Highway, Islandia, NY:
  • 191,052 Rentable Sq Ft
  • 14.29 Acres with 738 Parking Spaces
  • Nine Single Story Office Buildings: 
  •     Buildings 1747, 1757, 1767 & 1787 Feature a 25′ x 50′ Atrium Space
  •     Building 1737 is Fully Sprinklered
  •     Electrical Service:
  •         1707: 1200 Amp 3-Phase 120/208v
  •         1717 & 1797: 400 Amp 3-Phase 120/208v
  •         1737: 800 Amp 3-Phase 120/208v
  •         1747 & 1767: 2000 Amp 3-Phase 120/208v
  •         1757, 1777 & 1787: 2400 Amp 3-Phase 120/208v
  •     Slab to Deck Hieghts of 12.5′, Finished Ceiling Heights Average 9′
  •     Rooftop HVAC Units Supply Heat and Air Conditioning
  •     ADA Compliant
  •     Built in 1984-1986
  •  
  • General Information on Matrix Executive Park:
  • LED Street Lights Throughout Interconnecting Parking Lots
  • Accessible Directly from Veterans Memorial Highway or Blydenburgh Road
  • Across from the 375,000 Sq Ft Islandia Shopping Center (Walmart, Super Stop & Shop and Dave and Busters)
  • 1,000′ South of I-495 Entrance
  • Daily Traffic Count of 32,800+ Vehicles
  • 5 Miles to Long Island MacArthur Airport

 

Inspection/Viewing: Available by Appointment Upon Request.

Overview of Sales Process: This is a two-step bidding process.  The first step is the submission of binding, sealed bids that are due by 5:00 p.m. on Tuesday, December 11, 2018.  The Qualified Bidders will be invited to bid at the live (invitation-only) auction on Tuesday, December 18, 2018 at 2:00 p.m.

Sealed Bid/Bidder Qualification Deadline: Tuesday, December 11, 2018 before 5:00 pm.  All Bid Requirements within the Marketing Procedures, the transmittal of the $1,250,000 Good Faith Deposit must be included for consideration.  See attached Marketing Procedures for details. 

Sealed Bid Delivery Location: Overnight Courier and Email Required to (a) [email protected] and Richard B. Maltz, Maltz Auctions, 39 Windsor Place, Central Islip, NY 11722 (b) [email protected] and Patrick R. Linsey, Esq., Zeisler & Zeisler, P.C., 10 Middle Street, 15th Floor, Bridgeport, CT 06604; and (c) [email protected] and William Caffrey, Esq., 1201 Route 112, Suite 900, Port Jefferson Station, NY 11776.

Auction Date & Time: Tuesday, December 18, 2018, at 2:00 pm.  (Registration commences at 1:30 pm).  Only Qualified Bidders as defined in the Marketing Procedures are qualified to attend and participate.

Auction Location: Sent via Private Invitation to Qualified Bidders.

Terms & Conditions of Sale: Please download the complete Marketing Procedures and Sale Contract. 

Broker Participation: A 50 basis point (1/2%) commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines.  Please download the Broker Participation Form for details. 

 


 Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
 Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022  Fax (516) 349-0105 

The Real Property is being sold “AS IS” “WHERE IS”, “WITH ALL FAULTS”, without any representations, covenants, guarantees or warranties of any kind or nature.  By delivering their respective Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Real Property, the state of title thereof and laws, rules and regulations applicable thereto, and will rely solely thereon and on their own independent investigations and inspections of the Real Property in making their bids. Neither Maltz, the Seller nor any of their collective representatives makes any representations or warrantees with respect to the permissible uses of the Real Property including, but not limited to, the zoning of the Real Property.  All Bidders acknowledge that they have conducted their own due diligence in connection with the Real Property and are not relying on any information provided by Maltz, the Seller, or their professionals.  The Real Property will be sold subject to any and all violations or conditions requiring corrective action.  The information contained herein was derived from sources deemed reliable, but is not guaranteed.  Most of the information provided has been obtained from third party sources and has not been independently verified.  It is the responsibility of the Buyer to determine the accuracy of all components of the sale and Property.  Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, including without limitation, environmental and physical condition of the Property.  All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction.  Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.

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