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WOODLANDS OFFICE PARKHAUPPAUGE, NY

TYPE
Office
SIZE
127,000 SF
ACQUIRED
2001
SOLD
2003

TYPE
Office
SIZE
127,000 SF
ACQUIRED
2001
SOLD
2003

property overview

MRA along with its partners acquired The Woodlands Office Park, a three-building office complex located in Hauppauge, NY, that was 78% occupied at the time of acquisition. In order to increase occupancy, MRA implemented a capital improvement program that included upgrades to the common corridors, bathrooms, and lobbies. MRA successfully leased the property to 95% occupancy within 17 months and sold the asset upon stabilization in 2003.