Colliers arrange long-term lease extension & expansion for North Suffolk Cardiology

East Setauket, NY Colliers has secured a 10-year lease extension and expansion for North Suffolk Cardiology at Stony Brook Technology Center (SBTC). SBTC’s exclusive real estate broker team led by Colliers senior managing directors Maria Valanzano and Steven D'Orazio represented the landlords, TRITEC Real Estate Company and UBS, in the transaction.

Founded in 1980, North Suffolk Cardiology is one of the largest cardiology practices on the North Shore of Long Island and is a practice of Stony Brook Community Medical. To help accommodate the practice’s growth, Colliers worked with North Suffolk Cardiology to double the size of its footprint at 45 Research Way to 23,000 s/f. North Suffolk Cardiology has occupied space at 45 Research Way, a two-story Class A multi-amenity office building with fitness and conferencing centers, since 2000. The office building is located within SBTC, a 103-acre campus-style technology park with over 1 million s/f of space spread across 28 buildings.
 
“We are thrilled to be continuing our relationship with North Suffolk Cardiology,” said Hanneke Talbot, the CFO of TRITEC. “This deal further validates the long-term sustainability for the Stony Brook Technology Center as we extend and expand our relationship with Stony Brook Hospital System through its North Suffolk Cardiology division.”

“SBTC is an incredibly attractive location for a variety of innovative healthcare and technology-focused tenants,” said Karen Shelhorse, senior property manager at TRITEC. “The park is located in a densely populated medical market, offering medical tenants close proximity to major health systems. To add to this, we’re also planning several capital improvements that will only further improve the facilities and amenities available for our tenants.”
 
“We’re pleased to have worked with North Suffolk Cardiology to expand the practice’s footprint in Stony Brook Technology Center to accommodate its growth and achieve its business goals,” said D’Orazio. “TRITEC and UBS worked tirelessly alongside our team to continue the relationship with North Suffolk Cardiology, which is indicative of how they prioritize the needs and desires of tenants throughout the park.”

David Leviton from JLL represented the tenant in the transaction.