News:
Brokerage
Posted: July 21, 2020
Hunt of Hunt Corportate and Lee & Assocs. lease 6,107 s/f in Plainview
Plainview, NY According to Hunt Corporate Services, Inc., PromptCare Infusion LLC has leased 6,107 s/f of industrial/flex space at 51 East Bethpage Rd. David Hunt represented the landlord, Anton Cerrone Associates. David Newton and Kelly Koukou of Lee & Associates represented the tenant.
This lease follows a 13,605 s/f lease to Laboratory Corp.of America, the first tenant in this redeveloped office building.
“The respiratory and infusion facilities are being custom-built by the landlord to PromptCare specifications, and expected delivery to the tenant will be in the 4th quarter of this year,” said Hunt. “The high percentage of office and laboratory space for both new tenants in the building was only possible because of the extraordinary parking available on site. This redevelopment illustrates the weakening demand for office space, and the pent-up demand for flex industrial and laboratory space. We only have one suite left in this 25,660 s/f building.”
Tags:
Brokerage
MORE FROM Brokerage
Horvath & Tremblay Announces Strategic Integration of B6 Real Estate Advisors, Expanding New York City Presence
New York, NY Horvath & Tremblay, a premier real estate services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal & valuation services, announced the strategic integration of B6 Real Estate Advisors into the firm’s growing national platform.
Quick Hits
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
