News release

$22.45M financing secured for Long Island office building

JLL Capital Markets led the financing efforts for the acquisition of 5000 Corporate Court, a Class A office building in Holtsville, New York

June 07, 2022

Kristen Murphy

Investor PR, Capital Markets, Hotels, Property Management, Valuation Advisory, Agency Leasing
+1 617 848 1572

MORRISTOWN, N.J., May 7, 2022 – JLL Capital Markets announced today that it has arranged $22.45 million in acquisition financing for 5000 Corporate Court, a Class A office building totaling 264,482 square feet in the Long Island community of Holtsville, New York.

JLL worked on behalf of the borrower Northpath Investments, to secure the three-year, fixed-rate bridge loan with Shem Creek Capital.

Constructed in 2000, 5000 Corporate Court is currently 90.3 percent leased to five tenants, four of which are General Service Administration (GSA) organizations. The two-story property features parking for more than 1,800 vehicles as well as a tenant lounge on site.

5000 Corporate Court is positioned on an expansive 37.33-acre parcel in Central Long Island. The property has convenient access to major highways, including the Long Island Expressway and County Road 97, while also maintaining easy access to the LIRR, which provides commuter rail access from Manhattan to the tip of Long Island. The Central Suffolk County office submarket is one of the strongest in the state with close to 11 million square feet of office space and a vacancy rate less than 7 percent.

JLL’s Debt Advisory team representing the borrower was led by Senior Managing Director Michael Klein, Director Max Custer and Associate Gerard Quinn.

“The Sponsor is acquiring a well-located office property that benefits from Suffolk County’s tax base and a deep labor pool that is expected to continue to attract and retain tenants for years to come.  Moving forward, the Northpath and Primex team will be able to unlock the value that the excess land provides,” said Klein.

“Shem Creek was able to quickly grasp the attractive fundamentals of the deal and was able to easily navigate the transaction’s complexities while still meeting an aggressive closing timeframe.  They were a pleasure to work with,” added Custer.

“We are bullish on the Suffolk County office market and have been looking to expand our portfolio in the Region. This property presented us with an opportunity to use our knowledge from our other office campus in the area, Brookhaven Professional Center, to acquire a high-performing asset at an attractive price point. I believe that both properties will complement each other nicely as they each cater to different types of tenants,” said Gershon Alexander, Principal at Northpath.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Northpath Investments

Northpath Investments is a privately held real estate investment firm headquartered in New York City. Northpath is focused on the acquisition, development, redevelopment, and management of retail, industrial, and office properties in the Northeast and Mid-Atlantic. For additional information, please visit: