2017 Year in Review: Mario Asaro, Industry One Realty Corp.

Name: Mario Asaro

Company Name: Industry One Realty Corp.

Address: 95 Broadhollow Road, Melville, NY

What was your most notable project, deal, transaction or professional achievement in 2017?

That would be a tie between two very similar properties because they both show the value of the industrial land. The first was Lakewood Auto Salvage at 1070 Route 109 in Lindenhurst–15,000 s/f on 3 acres sold for $3.65 million. The second was Markowitz Metal building at 45 Brook Ave. in Deer Park–15,000 s/f on 3.18 acres sold for $3.8 million.

What was the best decision you made in 2017 and why?

Starting Industry One Global–Because it will allow Industry One Realty to assist companies find the facilities in locations throughout the world. 

Who or what contributed to your success in 2017 and why?

I would say my administrative staff because they are so supportive and care so much about the success of the company. Also tapping into my SIOR connections help me make one of the largest deals this year, as well as their education and conferences have given me the tools to assist clients best. 

What trends will impact your business in 2018?

For Office space As some downtowns get developed by transit-oriented developments it may attract some companies looking to be closer to Gen Y & Z workforce as well as mass transit. Creating less demand for Mainstream Office Park Office space such as Melville and Jericho, which still has vacancy rates in low teens in some areas. However since there isn’t much office space actually existing in these areas it should not be too significant of an impact. 

In Industrial, lack of inventory will continue to keep prices going up and companies clamoring to be first to the right property when it becomes available.