Commercial Brokerage Powerhouses Coldwell Banker Commercial Island Corporate Services and Avison Young have been appointed as co-exclusive brokers for Empire Corporate Park in Medford, Long Island, NY
The site can be divided to a minimum of two acre lots, and will allow for buildings ranging in size from as small as 10,000 sq. ft. to as large as up to 250,000+ sq. ft. The park has sewers, the road is paved, all utilities are in place and it is ready for development. The park is located a quarter mile off the Long Island Expressway (Route 495) at Exit 65. Both the land and the buildings are available for sale or lease.
The brokers have assembled a robust team of professionals to develop the park including the law firm of Certilman Balin, Bridgehampton National Bank, Sidney Bowne Engineering, and the builder Mark Seiden of LMJ Contracting, They will also work closely with economic development officials in the Town of Brookhaven and Suffolk County, each of whom is offering an array of economic incentives to qualifying companies, including real estate tax abatements, sales tax abatements and other incentives.
Leo Farrell, a Managing Principal of the Islandia, NY based Long Island office of Coldwell Banker Commercial, a 100 plus year old commercial real estate firm with 200 offices in North America, says that “the industrial real estate market on Long Island remains robust with a low vacancy rate and a tight inventory of available buildings for sale. These conditions, along with a steadily improving overall economy, has the build-to-suit market poised to start up again after being dormant for the past five years”.
Avison Young, a 40 year old commercial real estate firm with 52 offices in North America, has just opened their Long island office in late August. Ted Stratigos, Principal and Managing Director of the new office says “What is unique about this park, aside from the excellent location, is that there is very little land available on Long Island which is already zoned and ready for development, and with all the infrastructure in place. This gives a company an option for a building that is customized to their needs along with cost savings incentives available, but without the lengthy approval process”.
Lee Rosner, CCIM SIOR, also a Managing Principal of Coldwell Banker Commercial’s Long Island office, says that the Empire Industrial Park will benefit from the marketing muscle and experience of two powerful national commercial real estate companies that are run by top notch professionals with unparalleled expertise in industrial build to suit real estate transactions.
Isaac Toussie of the Toussie Organization stated "The synergy of the two firms brings to the table both the local market knowledge and the national platform required to successfully market these parcels. We are very excited by this winning combination".
The brokerage firms will also handle two other parcels consisting of the 50 acre Rosh Industrial Park and 26 acre Martino Industrial Park in Yaphank, both also owned by the Toussie Organization. These sites can be sub-divided and are also available for sale or on a build to suit basis.