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
Description1st Q 20142nd Q 20143rd Q 20144th Q 20141st Q 2015Trend
Vacancy Rate9.80%9.90%9.40%9.40%9.60%Up
Net Absorption(25,607)58,3603,829454,170(29,767)Down
Vacant Sublease Space280,324271,931213,594205,624235,748Up
Class A Rental Rate$30.95$30.88$31.18$31.02$30.84Down
Nassau County$33.03$33.87 $33.47$32.95Down
Suffolk County$28.52$28.24 $27.87$28.48Up
Class B Rental Rate$23.78$23.27$23.70$23.81$23.62Down
Nassau County$26.31$26.17 $26.32$26.26Down
Suffolk County$21.12$20.74 $21.63$21.29Down
Class C Rental Rate$20.29$20.27$20.50$22.40$21.15Down
Nassau County$21.77$21.52 $23.51$22.46Down
Suffolk County$18.14$18.42 $20.06$19.00Down
Total Rental Rate$25.25$24.88$25.23$25.59$25.22Down
Nassau County$27.34$27.35 $27.81$27.34Down
Suffolk County$22.82$22.66 $23.08$22.96Down
New Construction 16,25087,20019,9088,000Down
SF of Office Inventory89,600,25189,768,65289,855,85289,869,53689,187,383Down
# of Office Bldg's5,7375,7915,7935,7955,807Up
Sales Activity - $'s$31,425,000$56,792,623$20,598,095$106,720,000 Down
Sales Activity - # of Bldg's81168 Down
Sales Activity - Total SF238,385409,361260,672739,932 Down
Sales Price PSF$131.82$138.73$79.02$144.23 Down
Data Source - CoStar Group
Historical Long Island Office Market Reports - Nassau Suffolk
QuarterYearSorted By Year In Descending OrderProperty TypeMarket Report DescriptionLink
1st2015OfficeLong Island, Nassau - Suffolk Office Property Market Reportmarket_reports/2015_1stQtr_Office_Market_Report.pdf
4th2014OfficeLong Island, Nassau - Suffolk Office Property Market Reportmarket_reports/2014_CBCICS_4th_Qtr_Office_Market_Report.pdf
3rd2014OfficeLong Island, Nassau - Suffolk Office Property Market Reportmarket_reports/2014_3rd_Qtr_Office_Market_Report.pdf
2nd2014OfficeLong Island, Nassau - Suffolk Office Property Market Reportmarket_reports/2014_2nd_Qtr_Office_Market_Report.pdf
1st2014OfficeLong Island, Nassau - Suffolk Office Property Market Reportmarket_reports/2014_1st_Qtr_Office_Market_Report.pdf
3rd2013OfficeLong Island, Nassau - Suffolk Office Property Market Report2013_CBCICS_3rd_Qtr_Industrial_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 Reportmarket_reports/2013_1st_Qtr_Office_Market_Report.pdf
4th2013OfficeLong Island, Nassau - Suffolk Office Property Market Reportmarket_reports/2013_4th_Qtr_Office_Market_Report.pdf
4th2012OfficeLong Island, Nassau - Suffolk Office Property Market Reportmarket_reports/2012_4th_Qtr_Office_Market_Report.pdf
3rd2012OfficeLong Island, Nassau - Suffolk Office Property Market Reportmarket_reports/2012 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