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C&W Sells St. John’s University Campus

| September 28, 2016 | 0 Comments

Cushman & Wakefield of New Jersey, Inc.oakdale-campus
One Meadowlands Plaza
East Rutherford, New Jersey 07073

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Media Contact: Evelyn Weiss Francisco: evelyn@caryl.com / (201) 796-7788 / www.twitter.com/carylcomm

OAKDALE, N.Y., Sept. 28, 2016 – Cushman & Wakefield announced it has sold St. John’s University’s 170-acre Oakdale campus to Amity University, a non-profit International Educational Organization for $22.4 million. The Campus, located on Long Island’s Great South Bay in Suffolk County, includes 11 buildings totaling 260,000 square feet. The deal enables St. John’s to continue offering its existing academic programs under a lease agreement through June 2017 as Amity University assumes control of the property immediately.

A capital markets team including Helen Hwang and Karen Wiedenmann, formerly of Cushman & Wakefield, and members of the firm’s Metropolitan Area Capital Markets Group – Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Ryan Dowd and David Pennetta – headed the assignment.

“St. John’s was pleased to sell this historic and spectacular property to another academic institution, and we are excited to welcome this new international university to the area,” Brian Whitmer noted.

“We are proud to have been able to assist St. John’s with another assignment and happy that the deal included that St. John’s will be able to continue on site as they explore relocation options,” added Helen Hwang.

Located directly on the Great South Bay at 500 Montauk Highway, the property has a rich history. It was originally the waterfront estate for Frederick G. Bourne, president of the Singer Sewing Machine Company. It also previously served for many years as the site of LaSalle Military Academy, which ultimately became a kindergarten-through-high school global learning community. St. John’s purchased the property in 1998 and invested more than $10 million in renovating classrooms, laboratories and other buildings there. The campus is highlighted by the original Georgian mansion built in 1897. The grounds are spectacular and include sweeping bay views, tree-lined walkways, ivy-covered brick walls, well-manicured hedges, and rolling green lawns.

Based in East Rutherford, New Jersey, Cushman & Wakefield’s Metropolitan Area Capital Markets Group specializes exclusively in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, Fairfield County, Connecticut, Pennsylvania, and Delaware. The team has completed more than $17 billion worth of transactions since 2000, closing over $2 billion in sales to date in 2016.

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About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit or follow @CushWake on Twitter.

 

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Category: Cushman & Wakefield of New Jersey, News Releases, Newswire: Latest News

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