Century Plaza in Mineola sold to Lalezarian Properties
Century Plaza, a three-story office building at 330 Old Country Rd. in Mineola, on Oct. 15, 2015. Lake Success-based developer Lalezarian Properties has bought for an undisclosed sum. Credit: Howard Schnapp
TIAA-CREF, a financial services firm based in Manhattan, has sold a three-story office building at 330 Old Country Rd. in Mineola to Lake Success-based developer Lalezarian Properties. The price was not disclosed.
The 115,000-square-foot Century Plaza, built in 1990 and renovated in 2009, was 95 percent leased at the time of sale, according to a news release. Current tenants include Liberty Mutual Insurance, Oracle America Inc. and Did-it.com, an online advertising and marketing firm.
The building has 475 parking spaces and sits near Winthrop-University Hospital and the Long Island Rail Road station in Mineola, a major factor in the building's appeal, said officials with Cushman & Wakefield, the brokerage that oversaw the deal.
Lalezarian Properties is also working on developing two multifamily residential projects in the area, including a rental complex at 250 Old Country Rd. and an eight-story apartment complex near the LIRR station.
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