HAUPPAUGE, NY-A partnership of locally-based Matrix Investment Group and the Crest Group has acquired the Crossroads Corporate Center here and in Islandia.
The new ownership has renamed the 13-building, 400,000-square-foot office complex the Matrix Corporate Park. Current tenants at the park include: National Life Group, Stifel Nicolaus, Paychex, Empire National Bank, Rubin & Rothman and TransFirst. No financial terms of the transaction were released. The property is located on the north and south sides of the Long Island Expressway at exit 57.
The newly acquired complex includes the four-story 1393 Veterans Memorial Highway building, with an on-site conference facility, corporate cafe, covered parking, and a fitness center.
The outdoor facilities at the property include extensive landscaping and a 25-foot outdoor fountain. Matrix plans the addition of outdoor seating areas and waterfall landscaping, as well as new facades for the 1700 series buildings, company officials state.
Additional renovations will involve improvements to common area hallways, modernization of HVAC, lighting and plumbing, parking lot re-surfacing, signage upgrades and expansion of the fitness center at 1393 Veterans Memorial Highway.
“We are excited we have this opportunity to take on a sizable asset here in our own backyard,” says Glen Nelson, CEO of Matrix Realty Group. “We will focus our precision execution on this asset that has been developed and perfected across the country and truly make Matrix Corporate Park a Class A commodity for all its tenants and the surrounding businesses.”