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May 30, 2018  

Spruced-Up Long Island Offices Shown

A J.P. Morgan Asset Management partnership is marketing a recently renovated office property on Long Island.The 409,000-square-foot complex, at Three Huntington Quadrangle in Melville, N.Y., is 99% leased. Bids are expected to come in around $75 million, or $183/sf. Based on $5.8 million of net operating income, that valuation would produce an initial annual yield of 7.7%. CBRE has the listing.The J.P. Morgan team bought the property from...

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