Onyx Equities and The Davis Companies Acquire Atria West in Garden City, N.Y.
A joint venture of leading real estate investment, development and management firms The Davis Companies and Onyx Equities, LLC today announced the acquisition of Atria West, a 250,000-square-foot, Class A office building located at 900 Stewart Avenue in Garden City, N.Y.
Built in 1986, the six-story site features a metal panel exterior of reflective glass and a 180-foot-long, 50-foot-high atrium. Amenities include an on-site café, management office, outdoor seating and tables, 24/7 access, security system and ample parking.
Located in the central Nassau County submarket, the property is near the Meadowbrook Parkway and destinations including Adelphi University, Hofstra University, Nassau Community College and Roosevelt Field Mall. Current tenants include JP Morgan Chase and AT&T.
The Rochlin Organization has been named exclusive leasing agent for Atria West, and the Spector Group has been hired as architect for a renovation that will include remodeling of the atrium lobby, building common areas, outdoor plaza and landscaping.
“We had been searching for the right opportunity to expand our portfolio in the dynamic Nassau County market, so we are excited to have acquired this premier site in one of the largest office deals completed on Long Island in 2012,” Onyx Equities Senior Vice President of Investments Stephen Sullivan said. “We look forward to working with the Spector Group, which was the original architect on the project, to upgrade the building, and with the Rochlin team to identify high caliber tenants.”
About Onyx Equities, LLC
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC is a leading private real estate investment, management and development firm. Since its founding in 2004, Onyx has acquired more than $1 billion worth of real estate assets across the tri-state region. The company currently owns, manages or is the appointed receiver for 17 million square feet of office, retail, industrial, and self-storage properties located in New Jersey, New York, Connecticut and Pennsylvania. For more information on Onyx Equities, contact the firm at (732) 362-8800, or visit www.onyxequities.com.
The Davis Companies
The Davis Companies (www.thedaviscompanies.com), a real estate investment, development and management firm based in Boston, Massachusetts, was founded in 1976. On behalf of their clients, they have invested in approximately 140 properties representing over $2.5 billion in gross asset value, and have acquired approximately $550 million of commercial loans and real estate securities. Today, The Davis Companies, together with its affiliates, owns and manages a real estate portfolio of more than eight million square feet and is an active investor in real estate equity, debt, and fixed-income real estate securities.