Mixed-use medical and retail building on Long Island trades

MORRISTOWN, N.J., Dec. 9, 2025 –  JLL Capital Markets (“JLL”) announced today that it has completed the sale of 1300 Franklin Ave., a 127,496-square-foot, mixed-use medical and retail building in Garden City, New York.

Working on behalf of the seller, Intercontinental Real Estate Corporation (“Intercontinental”), JLL arranged the sale of the property to a private buyer.

1300 Franklin Ave was originally built in the 1960’s and was extensively renovated in 2007. The 78.5%-occupied property consists of roughly 50,000 square feet of medical office space and 50,000 square feet of retail space, with another 27,000 currently vacant. The high-profile tenant mix includes NYU Langone Health, Walgreens, Cornell Medicine and Healthtrax.

The property is positioned on 2.3 acres in the Central Nassau submarket on Long Island. The surrounding area is home to a robust healthcare sector, which is a significant demand driver to the property, and higher education institutions such as Hofstra University and Adelphi University. 1300 Franklin Ave also has convenient access to major Long Island thoroughfares, including the Meadowbrook State Parkway, Jericho Turnpike, Southern State Parkway, Northern St Parkway and Cross Island Parkway, providing access throughout Long Island and to Manhattan.

JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Jose Cruz and Jeremy Neuer, and JLL’s David Leviton provided leasing and market support.

“Medical buildings continue to appeal to investors due to the stability of their tenants and the recession-proof nature of the sector in general,” said Cruz. “The value-add aspect of this offering also drew significant interest particularly given its central location in a healthcare hub on Long Island.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’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 group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Intercontinental Real Estate Corporation is an SEC Registered Investment Adviser* with decades long experience in real estate investment, finance, development, construction management and asset management. Since 1959, Intercontinental and its affiliates have managed, developed, or owned collectively over $18.41 billion in real estate property. As of September 30, 2025, Intercontinental manages a real estate portfolio of approximately $12.64 billion for its clients. Intercontinental investment strategies actively seek opportunities to invest in both Core and Core-Plus properties, as well as in Value-Add operating properties and development projects. For more information on Intercontinental please visit www.Intercontinental.net.

*Registration with the SEC does not imply a certain level of skill or training.

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.