News: Shopping Centers

Island Associates arranges three retail leases totaling 8,430 s/f; Includes a 5,070 s/f lease by McKnight for Islip dance studio

Island Associates (IA) has brokered three retail leases totaling 8,430 s/f. The deals include: * Dance Connection Inc. entered into a 10-year agreement to lease 5,070 s/f at 181 Freeman Ave. 181 Freeman Ave. which is an 80,000 s/f building is currently home to Gold Gym, Thro Designs and Parisi Speed School. Stephen McKnight of IA represented Dance Connection. * Tropical Smoothie Café leased an 1,800 s/f store at Bay Shore Commons on Montauk Hwy., Bay Shore. Bay Shore Commons is anchored by Stop & Shop Supermarket and Retro Fitness. They signed a 10-year lease and are expected to open in the spring. Tropical Smoothie is a national franchise with over 275 locations and opened their first franchise in 1997. McKnight represented Tropical Smoothie. IA exclusively represents all of Nassau/Suffolk Counties in Tropical Smoothie's expansion. * John Walser of IA represented Verma Group in their expansion into Suffolk County. The tenant will be working under the trade name Suffolk Gold Buyers. Verma is taking an 1,560 s/f end cap in the Deer Park Commons shopping center at 540 Commack Rd., Deer Park. Aggregate rental is $180,397 over five years. IA represented both landlord and tenant.
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2024 Year in Review: William O’Brien, M.C. O’Brien, Inc.

What noteworthy transactions or deals from this year best exemplified key market trends or shifts? I would like to say there was an outstanding transaction for me this past year but 2024 was more a culmination of long-term relationships, most of which continued to transact. Deals were smaller in many cases but we saw robust leasing both on the agency side as well as on the tenant side.

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