Long_Island_Office_Space

Office Space

Leasing and Sales

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

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.

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