July 30, 2021 (Albany, New York) Lisa Menin of Jacobson Properties and Leo Jones of Pyramid Brokerage Company of Binghamton are pleased to announce the sale of the Albany Medical Office Portfolio, composed of 4 institutional grade medical office properties located in the Capital Region of New York State. The Portfolio contains 119,602 square feet and is 67% occupied by St. Peter’s Health Partners (Trinity Health).
The properties involved in the sale are:
• 2 Palisades Drive, Albany, New York
• 4 Palisades Drive, Albany, New York
• 5 Palisades Drive, Albany, New York
• 2 New Hampshire Avenue, Troy, New York
The Portfolio, which is 100% leased, is strategically located close to three St. Peter’s Health Partners hospitals.
The Albany Medical Office Portfolio was sold by three local partnerships to a national healthcare real estate investment trust for an undisclosed purchase price. Lisa Menin and Leo Jones served as exclusive advisors to the seller.
About Jacobson Properties:
Lisa Menin of Jacobson Properties specializes in the sale of institutional grade healthcare real estate nationwide. A former Wall Street attorney, Lisa exclusively represents hospitals, physicians, and developers in the sale of their high-quality medical assets and is an expert at re-structuring medical properties in preparation for sale. Lisa has a 35-year track record of completing complex and challenging deals and has personally closed transactions totaling in excess of $672 million over the past few years. For additional information, please visit www.jacobsonproperties.net
About Cushman & Wakefield/Pyramid Brokerage Company:
Leo Jones is President and Principal Broker of Cushman & Wakefield/Pyramid Brokerage Company of Binghamton, Inc. Pyramid is Upstate New York’s largest and only regional commercial real estate services firm with over 100 agents in 10 offices across the state and has been a leading provider of commercial real estate services since 1971. Leo has over 35 years of experience in all facets of commercial real estate and has closed medical office transactions totaling in excess of $165 million over the past few years. Leo can be reached at LJones@pyramidbrokerage.com or via telephone at (607) 754 5990. More information is available at www.pyramidbrokerage.com
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