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Long Island Office Market Report

ISLAND CORPORATE SERVICES

OFFICE MARKET REPORT FOR NASSAU AND SUFFOLK COUNTIES, LONG ISLAND

The fourth quarter 2018 vacancy rate increased from the previous quarter to 7.0%. The average quoted office rental rate for all office space in Nassau and Suffolk decreased from $25.41 in the third quarter 2018 to $25.11 in the fourth quarter 2018. The average quoted rates for Class A decreased by 2.9%, Class B decreased by 1.2%, and Class C decreased by 2%. Net absorption was negative at (188,696), down from negative (165,956) in the previous quarter 2018. Net absorption for Class A was negative (246,939), Class B was positive 45,495, and Class C was positive 12,748. During the fourth quarter 2018, no square feet of new space was added to the Nassau and Suffolk County market area. Sales activity statistics not available at this time.

 

Click here to go to the CBCICS Industrial Market Report Page

Description4th Qtr 20171st Qtr 20182nd Qtr 20183rd Qtr 20184th Qtr 2018Trend
Vacancy Rate7.10%6.80%6.90%6.90%7.00%Up
Net Absorption38,935194,444(145,577)(165,956)(188,696)Down
Vacant Sublease Space256,121524,962553,663720,533823,062Up
Class A Rental Rate$30.60$29.90$29.99$30.86$29.97Down
Nassau County$33.53 $33.01$34.48$33.68Down
Suffolk County$25.98 $25.76$26.41$25.90Down
Class B Rental Rate$24.55$24.09$23.70$23.89$23.61Down
Nassau County$26.25 $26.21$26.10$25.30Down
Suffolk County$22.95 $21.29$21.71$22.26Up
Class C Rental Rate$22.21$21.77$21.65$22.65$22.20Down
Nassau County$22.94 $22.25$23.72$22.64Down
Suffolk County$20.86 $20.70$21.06$21.38Up
Total Rental Rate$25.68$25.13$25.00$25.41$25.11Down
Nassau County$27.59 $27.29$27.78$26.96Up
Suffolk County$23.31 $22.30$22.73$23.14Up
Data Source - CoStar Group
QuarterYearSorted By Year In Descending OrderProperty TypeMarket Report DescriptionLink
4th2018OfficeLong Island Nassau Suffolk Office Property Market Report2018_4th_Qtr_Office.pdf
3rd2018OfficeLong Island Nassau Suffolk Office Property Market Report2018 3rd Qtr Office.pdf
2nd2018OfficeLong Island Nassau Suffolk Office Property Market Report2018 2nd Qtr Office.pdf
1st2018OfficeLong Island Nassau Suffolk Office Property Market Report2018 1st Qtr Office.pdf
4th2017OfficeLong Island Nassau Suffolk Office Property Market Report2017 4th Qtr Office.pdf
3rd2017OfficeLong Island Nassau Suffolk Office Property Market Report2017 3rd Qtr Office.pdf
2nd2017OfficeLong Island Nassau Suffolk Office Property Market Report2017 2nd Qtr Office.pdf
1st2017OfficeLong Island Nassau Suffolk Office Property Market Report2017 1st Qtr Office.pdf
4th2016OfficeLong Island Nassau Suffolk Office Property Market Report2016 4th Qtr Office.pdf
3rd2016OfficeLong Island Nassau Suffolk Office Property Market Report2016_3rd_Qtr_Office.PDF
2nd2016OfficeLong Island Nassau Suffolk Office Property Market Report2016_2nd_Qtr_Office.PDF
1st2016OfficeLong Island Nassau Suffolk Office Property Market Report2016_1st_Qtr_Office.pdf
4th2015OfficeLong Island Nassau Suffolk Office Property Market Report2015 4th Qtr Office.pdf
3rd2015OfficeLong Island Nassau Suffolk Office Property Market Report2015_3rd_Qtr_Office.pdf
2nd2015OfficeLong Island Nassau Suffolk Office Property Market Report2015_2nd_Qtr_Office.pdf
1st2015OfficeLong Island Nassau Suffolk Office Property Market Report2015_1st_Qtr_Office_Market_Report.pdf
4th2014OfficeLong Island Nassau Suffolk Office Property Market Report2014_CBCICS_4th_Qtr_Office_Market_Report.pdf
3rd2014OfficeLong Island Nassau Suffolk Office Property Market Report2014_3rd_Qtr_Office_Market_Report.pdf
2nd2014OfficeLong Island Nassau Suffolk Office Property Market Report2014_2nd_Qtr_Office_Market_Report.pdf
1st2014OfficeLong Island Nassau Suffolk Office Property Market Report2014_1st_Qtr_Office_Market_Report.pdf
4th2013OfficeLong Island Nassau Suffolk Office Property Market Report2013_4th_Qtr_Industrial_Market_Report.pdf
3rd2013OfficeLong Island Nassau Suffolk Office Property Market Report2013_3rd_Qtr_Office_Market_Report.pdf
2nd2013OfficeLong Island Nassau Suffolk Office Property Market Report2013_CBCICS_2nd_Qtr_Office_Market_Report.pdf
1st2013OfficeLong Island Nassau Suffolk Office Property Market Report2013_1st_Qtr_Office_Market_Report.pdf
4th2012OfficeLong Island Nassau Suffolk Office Property Market Report2012_4th_Qtr_Office_Market_Report.pdf
3rd2012OfficeLong Island Nassau Suffolk Office Property Market Report2012 3rd Qtr Office Market Report.pdf
2nd2012OfficeLong Island Nassau Suffolk Office Property Market Report2012 2nd Qtr Office Market Report.pdf
1st2012OfficeLong Island Nassau Suffolk Office Property Market Report2012_1st_Qtr_Office_Market_Report.pdf

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