Edward Pidgeon, Principal of Coldwell Banker Commercial Island Corporate Services recently completed a 10,500 SF, 15 year, industrial lease transaction at 39 Allen Boulevard in Farmingdale, NY. 39 Allen Boulevard is a 30,000 SF, multi-tenant, prime industrial building with great loading and plenty of parking, located just off Broadhollow Road. Pidgeon represented both the tenant, RAV Auto, Inc. and the landlord, Lighthouse Equities Group, LLC. RAV Auto, Inc. is a fleet services company, specializing in repairs and maintenance.
Brian McGuire, Senior Director of Coldwell Banker Commercial Island Corporate Services, recently completed a 10,000 SF industrial lease transaction at 1560 Locust Avenue in Bohemia. McGuire represented the tenant, Ray the Plumber Inc. and Alberto Fiorini of Alliance Real Estate represented the Landlord, Addison James Properties, Inc. Ray the Plumber is a full-service plumbing and heating company that has been in business for over 40 years.
Marko Glavadanovic, Associate of Coldwell Banker Commercial Island Corporate Services, recently completed a 7,000 SF, long term, retail lease at 306 Main Street in Hempstead, New York. Glavadanovic represented both the Landlord, Habros Realty and the Tenant, Planet Mitsubishi. This will be the new Showroom and Service Department for Planet Mitsubishi, with their grand opening sometime in early May 2018.
Mark Pawlitschek, Associate of Coldwell Banker Commercial Island Corporate Services, recently completed a 6,000 SF industrial lease at 1626 Locust Avenue in Bohemia, New York. Pawlitschek represented the Tenant, Crossfit Undivided, a core strength and conditioning fitness program. The Landlord in the transaction is 1626 Locust Avenue, LLC.
Leo Farrell, Managing Principal of Coldwell Banker Commercial Island Corporate Services, recently completed a 4.53 acre land sale transaction at Grand Boulevard and Route 111 in Brentwood, New York. Farrell represented both the Landlord, Farber Industrial, LLC and the Purchaser, Inglesia Palabra MIEL Church Long Island.
Marko Glavadanovic, Associate of Coldwell Banker Commercial Island Corporate Services, recently completed a 17,200 SF industrial lease at 19-02 38th Street in Astoria, Queens. Glavadanovic represented the Landlord, Blue Shore, LLC and Paul Yuris of DY Realty Services represented the Tenant, National Floors Direct. National Floors Direct is a direct-to-consumer carpet & flooring specialty service.
Lee Rosner, CCIM SIOR, Managing Principal of Coldwell Banker Commercial Island Corporate Services, recently completed a 4,504 SF lease at the Washington Professional Park located at 1500 Route 112 in Port Jefferson Station. Rosner represented the Landlord, M & R Stony Brook, Inc. Scott Berfas of Newmark of long Island, LLC represented the Tenant, Long Island Eye Surgical Care, PC.
WASHINGTON PROFESSIONAL PARK is a highly successful professional office park predominantly occupied with medical practices. It is located on a 21 acre site at a signaled intersection on NYS Route 112 within minutes of three major area hospitals. The 135,000 SF development is +/-80% built out.
Current Tenants Include: North Shore Hematology Oncology Associates, P. C. (now known as NY Cancer), Cavallo & Horlick Dermatology, Frontier Healthcare’s Long Island Digestive Endoscopy Center, Diehl Plastic Surgery Center, ENT and Allergy Associates, LLP, Long Island Bone & Joint LLP (coming soon), Neu ...
COLDWELL BANKER COMMERCIAL ISLAND CORPORATE SERVICES ANNOUNCES a 13,688 SF MEDICAL OFFICE LEASE TRANSACTION
Coldwell Banker Commercial has just released its annual year end 2016 US Market Report covering 130 US markets. The Coldwell Banker Commercial® (CBC) Blue Book offers a unique market perspective with data generated by true commercial real estate market experts – the professionals of the Coldwell Banker Commercial companies within the local markets. In total, there are over 130 domestic and international markets covered in this edition of the Blue Book. This insightful intelligence report was assembled entirely from data submitted by CBC-affiliated companies. The 2016 edition includes the most comprehensive primary, secondary and tertiary market coverage.
Find out more information about the Long Island, New York commercial real estate market as well as over 130 major markets throughout the United States.
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Coldwell Banker Commercial Island Corporate Services has released its 2016 year ending 4th Quarter Long Island Office and Industrial Real Estate Market Reports. Industrial vacancy rate ends at a historic low rate of 2.9%. The industrial vacancy rate started the year at 3.5% and decreased to 2.9% by year end. Quoted industrial asking rents are up over the prior quarter and year.The office vacancy rate started the year at 8.8% and decreased to 7.5% by year end. Quoted office asking rents are up over the prior quarter and year.
2016 FOURTH QUARTER LONG ISLAND INDUSTRIAL SUMMARY
The fourth quarter 2016 vacancy rate dropped slightly from the two previous quarters to 2.9%. Flex properties had a vacancy rate of 5.3% which is a significant increase from the 4.5% vacancy rate of the third quarter 2016. The warehouse vacancy rate decreased to 2.7% at the end of the third and fourth quarters in 2016, compared to 2.8% at the end of the second quarter 2016. Vacant industrial sublease space incr ...