Franklin Avenue in Garden City has long been known as the Fifth Avenue of Long Island — a premier commercial corridor and the undisputed financial center of Nassau County. When AWRE acquired the vacant former Saks Fifth Avenue department store at 1300 Franklin Avenue in the early 2000s, it was the firm's second acquisition from Saks and another example of AWRE's ability to source compelling off-market opportunities from major corporations divesting non-core real estate.

The 150,000 square foot building was fully gut-renovated and reimagined as a sophisticated mixed-use commercial property — one of the most ambitious adaptive reuse projects on Long Island at the time. AWRE's creative repositioning strategy produced a uniquely complementary tenant mix anchored by the Winthrop Hospital Wellness Center, which occupied a significant portion of the building as a premier medical and wellness destination. Health Trax Gym activated the lower level, drawing consistent daily foot traffic, while Morgan Stanley established a wealth management office in the building — a fitting tenant for a property at the heart of Long Island's financial community. The project was further complemented by retail and restaurant space, creating a vibrant, multi-purpose environment that served the surrounding Garden City community.

The results spoke for themselves. AWRE's sale of 1300 Franklin Avenue set a record for the highest price paid per square foot in Nassau County history at the time — a validation of the firm's vision, execution, and ability to create institutional-quality assets from overlooked properties. The project stands as one of AWRE's most celebrated exits and a defining example of the value-add development approach that has driven the firm's success for over five decades.