Plainview, NY Greiner-Maltz Co. of Long Island has experienced a trend of companies relocating their operations from Brooklyn and Queens to Long Island over the past few decades and has excelerated in the past few years. The changing landscape of various industries has had a significant impact on commercial real estate.
“We have experienced a great influx of industrial users come to Long Island from the boroughs for a long time–Greiner-Maltz of Long Island has seen the trend long before it was ever noticed by most businesses,” said Tom Attivissimo, president and CEO of Greiner-Maltz Co. of Long Island.
National companies with operation sites on Long Island have evolved a long range strategy to expand their presence in the New York metro area market. This trend has dovetailed with the objective of Greiner-Maltz to expand its tristate footprint by adding offices in New Jersey and Westchester. The 3rd office located in Moonachie, N.J. was opened four years ago to service companies relocating west of the Hudson and its 4th office in Westchester County was opened last year to service companies operating north of the Whitestone Bridge and Connecticut, expanding its tristate footprint further still.
A perfect example is when Dean Greiner, senior marketing director of the Long Island office, identified a freestanding 15,000 s/f warehouse distribution center for a NY Stock Exchange Uniform company at 1750 Arctic Ave. in Bohemia, and negotiated the terms of a long-term lease in June 2015 with an aggregate rent of approximately $1 million on their behalf, which enabled them to service their Suffolk County clients more effectively.
In addition, Greiner was asked to identify another operations site in Northeast Queens to raise their presence in that market. For this project, he worked with colleague Ira Sherman of Greiner-Maltz’s Long Island City office to successfully negotiate another long term lease of an 18,000 s/f facility at 18-02 Petracca Pl. in Whitestone, at an aggregate rent of $3 million. The uniform company took full occupancy of this facility this past June.
Working collaboratively with the Greiner-Maltz office in Long Island City, Greiner and Charles Wong (of the Long Island City office) facilitated the expansion of a Kitchen & Bath company. They were operating out of separate warehouse and showroom facilities in College Point until Wong and Greiner joined forces on the project to identify a high ceiling warehouse distribution facility with a showroom to enable this thriving company to expand its operations on Long Island. The two brokers worked in tandem to negotiate the terms of the sale of the 30,000 s/f building in Westbury for $3.5 million in October 2015. Their collaborative efforts for the Kitchen & Bath company continued with the August 2017 sale of a 47,421 s/f building at 11 Skyline Dr. in Plainview for $4.38 million.
Not all companies operating in the boroughs, and considering a relocation venture far from their existing facility such was the case with a fastener company from Brooklyn. They originally contacted the Greiner-Maltz of Long Island office about their exclusive agency for a 10,000 s/f building on two acres at 50 Windsor Pl. in Central Islip. Given the lot coverage, they could have expanded the building to 30,000 s/f without a variance. Ultimately, the principal of the firm was deterred by the scope of the redevelopment project and the risk of losing key operations personnel in the move. After the initial contact however, working with Greiner who identified an existing 30,000 s/f warehouse distribution facility at 714 Montauk Ave. in Brooklyn, and negotiated the terms of a five-year lease at an aggregate rent of over $2.2 million with yet another colleague in the Long Island City office, Ron Godel.
Our clients enjoy the benefits of working with Greiner-Maltz of Long Island because of the collaboration between our four strategically located offices in Long Island, the New York City boroughs, Westchester and New Jersey.
“We have a tremendous foot print that covers territory from NJ to the east end on Long Island, which helps to service our clients better,” said Attivissimo.