Coldwell Banker Commercial Island Corporate Services ("CBCICS") has been appointed Managing Agent for a portfolio that includes two high quality industrial properties located in the City of Clifton, Passaic County, New Jersey. CBCICS will provide a full scope of property management services for a California based investment group. The Clifton Portfolio is comprised of two multi-tenant industrial buildings totaling 288,469 square feet (10 Clifton – 144,005 square feet and 200 Clifton – 144,464 square feet) which were redeveloped in 2004. The extensive capital improvement program was highlighted by new roofs, HVAC, loading, façade, extensive site work and landscaping. The redevelopment strategy focused on creating attractive curb appeal along with flexibility and functionality of the buildings to target 5,000 to 25,000 square foot tenants. The portfolio is presently 100% occupied.
The CBCICS property management team is based in Islandia, NY and is lead by Lee Rosner, Managing Principa ...
Penn Mutual leases 3,787 SF of Class A office space at 102 Motor Parkway, Hauppauge, NY from Teachers Federal Credit Union. Lee Rosner and Leo Farrell of Coldwell Banker Commercial Island Corporate Services represented the landlord. Roger Wooster of Cushman & Wakefield, represented the tenant.
Baron Payroll, leased 3,000 sq. ft. of office space located at 1747 Veterans Highway, Islandia NY from Matrix Crossroads, LLC. Steven Reichman of Coldwell Banker Commercial Island Corporate Services represented the tenant. Aaron Smiles, Head of Commercial Leasing at Matrix, represented the Landlord
19 Broadway Holdings, LLC bought a 6,000 SF industrial building located at 19 Broadway Ave. in upstate Hawthorne, NY from SL Capitals Partners, Ltd. for $700,000.00. Brian Wynne of Coldwell Banker Commercial Island Corporate Service, LLC brokered the sale
Vivint Solar, Inc. leased 24,500 SF of industrial space at 3 Westchester Plaza in Elmsford, NY from the Landlord Mack-Cali CW Realty Associates, LLC. Vivint Solar, Inc. was represented by Edward Pidgeon of Coldwell Banker Commercial Island Corporate Services, while the Landlord was represented in house by Lou Amalfitano.
Aiston Fine Art Services relocated from Long Island City and signed a ten year lease for 12,360 SF of industrial / R&D space at 150 Executive Drive at the Heartland Business Park in Edgewood. Michael Rescigno of Coldwell Banker Commercial Island Corporate Services represented Aiston, while Nick Pizzardi of the Heartland Business Park represented the landlord.
We are pleased to announce that Mario Vigliotta recently joined the team at Coldwell Banker Commercial Island Corporate Services as an industrial property specialist. He spent the past two years working for another Coldwell Banker Commercial affiliate on Long Island and the prior eight years working for a smaller independent commercial real estate brokerage firm on Long Island. In addition to extensive real estate transaction skills, he has extensive experience with a number of local townships related to zoning and land use from his many years as an expeditor. Mario has an Associate’s Degree from the New York State University at Delhi. He has always been civic minded and is a member of his local Rotary and Chamber of Commerce and currently holds a seat on the Board of Trustees for the Mastics-Moriches-Shirley Community Library. Mario resides with his wife Jane in the Village of Mastic Beach where they have raised seven children.
Mario can be reached at 631-761-9402 Direct Dial | firstname.lastname@example.org
Industrial: Second Quarter 2015 vacancy rates came in at 4.4%, which is a slight decrease from the previous quarters. Flex projects had a vacancy rate of 7.3% which is a decrease from the 7.6% vacancy rate of the first quarter. The warehouse vacancy rate dropped to 4.0% at the end of the second quarter, with vacant sublease space decreasing to 220,430 SF from 221,340 SF. Vacant sublease space for flex projects was 34,890 square feet, up from 10,700 SF in the last three quarters, while vacant sublease space for warehouse projects decreased from 210,640 square feet to 185,540. Overall, rates for industrial space were down in the 2nd quarter. Rental rates increased for warehouse space and decreased for flex space. Net absorption for the first quarter was positive, finishing at 238,920 square feet. Two new buildings, totaling 52,000 square feet, were completed in the second quarter, up from zero in the first quarter. When looking at sales of buildings that are 15,000 SF or larger, sales fell in the first quarter. ...
Coldwell Banker Commercial's Year End Blue Book has been published. Click here to download a copy of this comprehensive market report covering 165 Primary, Secondary, Tertiary and International markets.
The new owners of the prestigious 170,000 SF Farmingdale Corporate Center, located at the intersection of Route 110 & Route 109 in Farmingdale, awarded the property management and leasing assignment to Islandia based Coldwell Banker Commercial Island Corporate Services.