New Owners for Crossroads Office Complex

DANBURY, Conn., Sept. 12, 2013 /PRNewswire/ -- Matrix Investment Group has acquired the property known as The Crossroads Corporate Center, the 400,000 square foot Class A 13-building office complex in Islandia and Hauppauge, New York. The building has been renamed the Matrix Corporate Park and the acquisition was completed as a partnership with two corporate real estate entities -- Matrix Investment Group (Matrix) and The Crest Group (TCG). Principals are Glen Nelson, Chairman/CEO of MRG and Enrico Scarda, J.D., Managing Partner, TCG.

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"Matrix was formed and spread its roots on Long Island and that early success has helped us grow nationally for the past 20 years. We are excited we have this opportunity to take on a sizable asset here in our own backyard," says Glen Nelson, CEO of Matrix Realty Group. "We will focus our precision execution on this asset that has been developed and perfected across the country and truly make Matrix Corporate Park a Class A commodity for all its tenants and the surrounding businesses."

"Glen and the Matrix team are really the force behind this acquisition and with their expertise and impeccable reputation, this partnership will be very successful and will continue to add to the combined success of Matrix and The Crest Group, both on and off Long Island," says Enrico Scarda.

The property consists of 13 office buildings, situated on the north and south side of the Long Island Expressway at exit 57, located in both Hauppauge and Islandia, New York. Current tenants include National Life Group, Stifel Nicolaus, Paychex, EmpireNational Bank, Rubin & Rothman and TransFirst.

Four of the buildings include the signature four-story Class A 1393 Veterans Memorial Highway building, with an on-site conference facility, corporate cafe, covered parking and a fitness center, along with full-time on-premises owner management office. 

The outdoor facilities include extensive landscaping and a 25-foot outdoor fountain. Matrix plans the addition of outdoor seating areas and waterfall landscaping, as well as new facades for the 1700 series buildings.

Additional renovations will also include common area hallway upgrades, modernization of HVAC, lighting and plumbing, parking lot re-surfacing, signage upgrades and expansion of the fitness center at 1393 Veterans Memorial Highway.

Available space at Matrix Corporate Park ranges from 750 square foot executive suites to 8,000 square foot areas. Matrix offers full commissions to brokers, including bonuses on every transaction, along with generous build-out allowances.

About MRG and TCG

Glen Nelson is the founder, Chairman, Chief Executive Officer, and President of Matrix Investment Group (formerly The Matrix Group). Founded in 1994, the Company is a diversified real estate investment and management company with holdings throughout the United States. Its current holdings include multi-family residential, commercial office and special purpose commercial properties. The company's U.S. assets include approximately six million square feet of space between multi-family and commercial properties.

Enrico Scarda is the President and Founder of The Crest Group, LLC. In 1989, Enrico earned a BS from New York University. He was recruited by Altalia airlines management training program and headed their finance department. In 2000, he earned his juris doctor degree from New York Law. In 2005, he established The Crest Group, LLC. In addition to the private equity firm, it has a full real estate department specializing in commercial, residential and muti- family projects. He is a member of the Suffolk County Bar Association, Long Island Builders Institute and Port Jefferson Lions Club.

SOURCE Matrix Investment Group