Monday, December 04, 2006

Treeline Cos. has paid $46 million for Atria East, a 207,000-square-foot office building in Garden City, N.Y.

The real estate firm, which is also headquartered in Garden City, purchased the property from Heritage Management of Ridgewood, N.J. Heritage had acquired the property last year for $37 million from Lincoln Equities Group.

Cushman & Wakefield marketed the building on behalf of Heritage Management.

Atria East is fully leased. Tenants include AIG Financial Services, Guardian Insurance and several government agencies.

The building will join Treeline's Long Island office portfolio, which already includes One Old Country Road and 100-400 Garden City Plaza.