Long Island Industrial Market Report
ISLAND CORPORATE SERVICES
The second quarter 2018 vacancy rate rose from the previous quarter to 3%. Flex properties had a vacancy rate of 4.8% which is lower than the 5.2% vacancy rate of the first quarter 2018. The warehouse vacancy rate at 2.8% rose from the quarter 2018 at 2.5%. Vacant industrial sublease space increased to 451,915 SF in the second quarter 2018 from 258,613 SF in the first quarter 2018. Vacant sublease space for flex properties decreased substantially to 1,100 SF in the second quarter 2018 from 27,322 SF in the first quarter 2018. Vacant warehouse sublease space increased to 450,815 SF in the second quarter 2018 from 231,291 SF in the first quarter 2018. Net absorption for the second quarter was negative, finishing at (478,930) square feet, a significant decrease from the positive 129,058 SF of net absorption reported in the first quarter 2018. 234,169 SF of new space in two buildings was completed in the second quarter 2018 with 243,490 SF still under construction.
Explore Long Island's largest searchable database of available office, industrial, retail, land and other commercial properties for sale and/or lease.
Search Property Central Now