Capital Square Realty Advisors, LLC announced today that one of its affiliates has acquired a medical office building in Merrick, New York, a town on Long Island. The 17,714-square-foot building has two stories and is 100% leased to Orlin & Cohen Orthopedic Group on a long-term basis.
Renovated in 2009, the property features a number of waiting rooms, 12 examination rooms, five patient consultation rooms, as well as an x-ray room, fluoroscopy suite, newly refurbished MRI suite, and six private offices. Located at 1728 Sunrise Highway, the facility is also accessible via Southern State Parkway, Northern State Parkway, and the Long Island Expressway. In addition, it can be reached through Long Island Rail Road and Nassau Inter-County Express bus system.
Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors, commented, “This is an exceptionally well located medical office building that is 100 percent leased to the largest private orthopedic practice in New York State.” He continued, “It’s strategically located within 16 miles of nine area hospitals, and is surrounded by densely populated residential neighborhoods on Long Island.”
As a sponsor of Delaware Statutory Trust (DST) offerings, Capital Square Realty Advisors is focused on acquiring medical office buildings that are leased by leading medical practices. The company also specializes in creating and managing commercial real estate investment programs for Section 1031 exchange investors.