Matrix Corporate Park (MCP) located at exit 57 off the Long Island Expressway has become a business destination that testifies to the growing strength of the local economy. At the end of August, more than 31 small to mid-sized businesses joined its tenant roster in the 400,000 s/f property. Seventy plus companies now occupy the total 13 buildings with its four-story tower located on 1393 Veterans Memorial Hwy.
The market also responded to the office park's $5 million capital renovations. The Matrix Realty Group acquired and invested in the former Crossroads site two years ago. MCP improvements include changes in air quality, technology upgrades and a 25' water fountain that has become a landmark for Suffolk County's exit 57 with Hauppauge on the northern side of the LIE and Islandia to the south.
Glen Nelson, CEO of the privately held real estate investment and development firm, credits MCP's heavy leasing activity with local job growth and the support of brokers working in Long Island's commercial real estate community.
The twenty year old firm's commercial leasing division, headed by Aaron Smiles, also changed a portion of the property's zoning for medical use. Suffolk County medical offices and their patients will use the easily accessible office park off of a non-congested part of the LIE which also offers ground floor entryways and ample parking. MCP's partial re-zoning will help meet the increasing demand for medical services, one of the largest growing sectors in today's economy. Medical offices at MCP is leasing in excess of $31 per s/f plus utilities with additional space coming on-line soon.
Businesses are also renewing their leases at exit 57 on Veterans' Highway. Smiles' said that the Matrix Realty Group's strategy of providing first rate office amenities with capital investments, on-site building management and custom build-outs, facilitated 15 MCP renewals and expansions to-date.
Ken Mollins, Esq. has been practicing law at MCP since the new ownership.
"Coming to work is the easiest part of the workday. I enter a building which is airy, light and has delightful amenities - along with a perfect location and management. It all comes together to form a perfect union," Mollins said.
Empire National Bank, a LI community retail bank, also recently invested in a 6,000 s/f expansion bringing its total headquarters to 25,000 s/f at MCP. Douglas Manditch, CEO, committed to more custom-built office space on Veterans Highway because of new hiring requirements and the park's location.
"By offering more online services, we need to employ the support staff to secure their controls. And, Empire needs to be in this area by the LIE," Manditch said. "The bank can service retail and professional customers the way they want - on-line or to easily accessible branch visits." Tags: