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Office

Long%20Island%20Office%20Space

Office Space

Leasing and Sales

Landlord and Tenant Representation Covering Long Island’s Nassau & Suffolk Counties

Office Brokerage: Unparalled Expertise

Landlords are once again under pressure as the office market has swung back in the tenant's direction. In spite of mobile technology and the trend toward working outside of the office, the work space will still remain a key opportunity for a business to make a strong impression. Even if your company is evolving into this type of organization, a central location will remain a necessity.
 

The variety in office space requirements and opportunities is tremendous. One thing remains constant: negotiating the lease is a one-time opportunity that the building owner and tenant will live with for many years into the future. So you want to be sure you have a knowledgeable expert at your side when you sit down at the negotiating table.

Coldwell Banker Commercial Island Corporate Services offers you (the building owner or potential tenant) the advantage of working with someone who can draw on the extraordinary commercial knowledge of Coldwell Banker Commercial experience and systems refined by more than 100 years in the real estate business. You'll be working with a professional Associate; someone who makes it a point, day in and day out, to remain on top of the latest office market trends.

Working with us, you can expect to receive expert assistance evaluating different concession packages, tenant build-out allowance, amenities, options, expense stops and the strength of the landlord or tenant. We offer the following market evaluation expertise:

  • Understanding current market rents
  • Finding the right opportunity or tenant
  • Sublease possibilities
  • New office building availabilities
  • Assessing the options
  • Impact of excess space in the market
  • Property expense evaluation

Whether you're an office building owner or a tenant, before you make your next move, discuss your options in the office market with an experienced specialist from Coldwell Banker Commercial Island Corporate Services.

Office Market Report - Nassau Suffolk Long Island

Description4th Qtr 20151st Qtr 20162nd Qtr 20163rd Qtr 20164th Qtr 2016Trend
Vacancy Rate8.80%8.70%8.30%7.40%7.50%Up
Net Absorption133,345125,762274,930322,972(202,414)Down
Vacant Sublease Space153,269172,667212,489204,365191,437Down
Class A Rental Rate$31.39$30.50$30.61$31.14$30.63Down
Nassau County$33.65$32.92$33.14$34.45$33.62Down
Suffolk County$28.00$28.01$27.41$27.19$26.65Down
Class B Rental Rate$23.55$23.57$23.36$23.74$23.99Up
Nassau County$25.63$26.33$26.24$26.58$26.35Down
Suffolk County$21.90$21.34$21.39$21.54$22.19Up
Class C Rental Rate$22.39$21.74$21.97$22.71$22.75Up
Nassau County$23.41$22.85$22.99$24.23$24.24Up
Suffolk County$19.90$19.43$19.89$19.56$19.86Up
Total Rental Rate$25.49$25.17$25.45$25.73$25.83Up
Nassau County$27.50$27.25$27.87$28.40$28.32Down
Suffolk County$23.13$22.99$22.95$22.85$23.12Up
SF New Construction Delivered21,70015,100-13,500-Down
SF New Construction Underway    733,525 
SF of Office Inventory90,036,55790,409,96291,308,36791,325,36391,550,155Up
# of Office Bldg's5,9165,9866,0176,0376,080Up
Sales Activity - $'s$121,714,805$115,010,000$134,236,400$44,825,000 Down
Sales Activity - # of Bldg's137117 Down
Sales Activity - Total SF854,593948,581912,411260,616 Down
Sales Price PSF$142.42$121.24$147.12$172.00 Up
Data Source - CoStar Group

Historical Long Island Office Market Reports - Nassau Suffolk

QuarterYearProperty TypeMarket Report DescriptionLink
1st2015OfficeLong Island Nassau Suffolk Office Property Market Report2015_1st_Qtr_Office_Market_Report.pdf
3rd2012OfficeLong Island Nassau Suffolk Office Property Market Report2012 3rd Qtr Office Market Report.pdf
4th2012OfficeLong Island Nassau Suffolk Office Property Market Report2012_4th_Qtr_Office_Market_Report.pdf
1st2013OfficeLong Island Nassau Suffolk Office Property Market Report2013_1st_Qtr_Office_Market_Report.pdf
4th2013OfficeLong Island Nassau Suffolk Office Property Market Report2013_4th_Qtr_Office_Market_Report.pdf
1st2014OfficeLong Island Nassau Suffolk Office Property Market Report2014_1st_Qtr_Office_Market_Report.pdf
2nd2014OfficeLong Island Nassau Suffolk Office Property Market Report2014_2nd_Qtr_Office_Market_Report.pdf
3rd2014OfficeLong Island Nassau Suffolk Office Property Market Report2014_3rd_Qtr_Office_Market_Report.pdf
4th2014OfficeLong Island Nassau Suffolk Office Property Market Report2014_CBCICS_4th_Qtr_Office_Market_Report.pdf
2nd2015OfficeLong Island Nassau Suffolk Office Property Market Report2015_2nd_Qtr_Office.pdf
2nd2013OfficeLong Island Nassau Suffolk Office Property Market Report2013_CBCICS_2nd_Qtr_Office_Market_Report.pdf
3rd2013OfficeLong Island Nassau Suffolk Office Property Market Report2013_3rd_Qtr_Office_Market_Report.pdf
1st2012OfficeLong Island Nassau Suffolk Office Property Market Report2012_1st_Qtr_Office_Market_Report.pdf
2nd2012OfficeLong Island Nassau Suffolk Office Property Market Report2012 2nd Qtr Office Market Report.pdf
3rd2015OfficeLong Island Nassau Suffolk Office Property Market Report2012 3rd Qtr Industrial Market Report.pdf
4th2015OfficeLong Island Nassau Suffolk Office Property Market Report2015 4th Qtr Office.pdf
1st2016OfficeLong Island Nassau Suffolk Office Property Market Report2016_1st_Qtr_Office.pdf
2nd2016OfficeLong Island Nassau Suffolk Office Property Market Report2016_2nd_Qtr_Office.PDF
3rd2016OfficeLong Island Nassau Suffolk Office Property Market Report2016_3rd_Qtr_Office.PDF
4th2016OfficeLong Island Nassau Suffolk Office Property Market Report2016 4th Qtr Office.pdf

Geographic Coverage

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Office Location Map

Location Map
One Suffolk Square
1601 Veterans Memorial Hwy, Ste 420
Islandia, NY 11749-5013
631-232-4400 Tel
800-860-7620 Toll Free
631-232-2438 Fax
Business Hours: 9AM to 5PM, M-F

©2017 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates.