Melville, NY Office leasing in New York City’s Long Island suburbs remains strong according to The Feil Organization, which has completed several major deals at its projects throughout Suffolk County in recent weeks.
Feil’s Melville Square Corporate Center continues to become a core for financial giants. Feil recently signed wealth management, financial services, and investment banking firm Aegis Capital Corp. to a 9,134 s/f space on the ground floor of the building located at 1305 Walt Whitman Rd. Aegis will join other major financial firms, including Merrill Lynch Wealth Management, RUI Credit Services, and USI Insurance, at the 165,310 s/f building.
That the lease was signed in the midst of the COVID-19 pandemic is a testament to the appeal of Melville Square Corporate Center, as well as to the continuing importance of working from traditional offices as government restrictions permit, according to Timothy Parlante, leasing director at The Feil Org., the building’s owner and manager.
“We are excited to welcome Aegis Capital to 1305 Walt Whitman Rd.,” Parlante said. “The market presented some unique challenges, but we were able to persevere. We feel that the corporate image of the building and the subsisting amenities will suit the tenant well. We have no doubt that they will continue to prosper in all their business endeavors.”
Terms of the transaction were not disclosed. Joseph Lopresti of Jones Lang LaSalle represented Aegis Capital, while Parlante represented The Feil Org.
Feil acquired the building in 2015, and undertook a major upgrade program. Amenities now include a full-service cafeteria with sit-down dining and WiFi, a full-service gym with locker rooms, conferencing facilities, a front desk concierge, and approximately 700 parking spaces.
Built in 1955, 1305 Walt Whitman Rd. consists of three floors and two atria, located in Long Island’s corporate headquarters corridor on the border of Nassau and Suffolk Counties, off exit 49 of the Long Island Expressway (I-495). Situated in one of New York City’s most in-demand suburban areas, the complex is 30 minutes from LaGuardia, John F. Kennedy International and Islip-MacArthur Airports, directly across from a full-service Marriott Hotel and close to Walt Whitman Mall, restaurants and retail options on Route 110.
“The Route 110 corridor is one of the most prestigious office locations in the greater New York City metropolitan area,” Parlante said. “These leases and renewals are continuing Feil’s positive momentum in this region, and show that major corporations are anxious to bring their staff to the right building in the right location with the right amenities.”
Aegis Capital Corp. was founded in 1984, and is a full-service retail and institutional broker-dealer headquartered in New York City. Aegis’ products and services include investment banking, wealth management, retirement planning and private equity financing, as well as other alternative and structured products.
In addition to this major transaction, Feil recently renewed long-standing leases with JPMorgan Chase Bank and TRC Engineers at its 395 North Service Rd., both for an additional five years past their current lease expirations. Both tenants occupy a large footprint and will remain the in the 189,550 s/f, four-story building.
Feil acquired 395 North Service Rd., which was built in 1988, in the summer of 2020, and is reviewing and improving the conditions of the current vacancies. The class A building features a concierge, fitness center, conferencing facility, food service, on-site property manager, and 500 parking spaces.