January 17th, 2023 – Valley Stream, NY American Investment Properties (AIP) was exclusively retained to sell the 7,308 s/f two-story office building at 550 W Merrick Rd. The office property was 25% vacant at the time of sale. Initially, potential buyers expressed interest in occupying the property but required more space than what was available soon. The remaining spaces were leased with two to four years remaining on their terms.
The multi-year leases of the other spaces meant AIP had to target its marketing to investors seeking a value-add deal, not owner-users.