East Setauket, NY Colliers has secured a long-term lease for 35,100 s/f of administrative office space for Stony Brook University Hospital at 31 Research Way in the Stony Brook Technology Center (SBTC). A Colliers team led by vice presidents Maria Valanzano and Steven D’Orazio represented the landlord, TRITEC Real Estate Company, in the negotiations.
Over the course of five years, Colliers has secured a number of leases for Stony Brook University Hospital on behalf of TRITEC. Stony Brook University Hospital is Long Island’s premier academic medical center with over 200 locations across the state. The new tenant will occupy the entire building within SBTC.
According to a recent report from Colliers, average asking rent in the Long Island office market soared to a 10-year high in Q1 of this year, suggesting the region is experiencing increased demand and promising growth.
“Our long-standing relationship with TRITEC made this deal move swiftly and underscores our shared dedication to increasing healthcare access across the state,” said Valanzano. “The Stony Brook Technology Center remains a strong asset, offering tenants state-of-the-art facilities within this prominent medical corridor.”
“We are thrilled to continue our partnership with Stony Brook Medicine at the Stony Brook Technology Center,” said Bob Coughlan, principal at TRITEC Real Estate Company. “Stony Brook Medicine’s continued commitment to this prime location near Stony Brook University Hospital will drive healthcare advancements and innovation in the region. We also greatly appreciate the hard work of the Colliers team, whose dedication has helped us maintain and strengthen these vital relationships.”
SBTC is a 103-acre technology park with over one million square feet of space. Home to some of the nation’s top researchers and surgeons, the innovative technology center sits in close proximity to major health systems including Stony Brook University Hospital, Northwell Health at Mather Hospital, and Catholic Health Systems at St. Charles Hospital. The 28-building property has a park-like atmosphere with greenery, ponds and fountains throughout the campus.
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