GARDEN CITY, N.Y. — The Treeline Companies, in a partnership with First Point Partners, has acquired Franklin Avenue Plaza, a four-building office portfolio in Garden City, for $98.7 million. Located at 1205, 1225, 1305 and 1325 Franklin Avenue, the portfolio consists of two three-story buildings and two five-story buildings. It also features parking, on-site banking, express mail
drops, a cafeteria and a fitness center. The property, which is approximately 90 percent leased, includes major tenants such as Allstate Insurance, Morgan Stanley, Wachovia Securities, Signature Bank and several other firms. Treeline is planning a major capital improvement program that will include common area and elevator renovation, first-class finishes, building system upgrades
and amenities and elegant landscaping. Jeff Dunne of CB Richard Ellis represented Treeline and First Point and the seller, Cammeby’s International, in the transaction.