News: Brokerage

Lee & Associates NYC arranges 23,600 s/f lease for Department of War at 1 Old Country Rd. in Carle Place, NY

Carle Place, NY According to Lee & Associates NYC, the Department of War has signed a 10-year lease for 23,600 s/f at 1 Old Country Rd. The agency will establish a regional office at the five-story building owned by DBD Realty Group and is expected to take occupancy in early 2027 following an extensive buildout of the new space to meet the Department’s operational requirements.

Kelly Koukou, principal of Lee & Associates NYC, represented the landlord. The tenant was represented by Ralph Guiffre, Vince Lamatta and Richard Freel of CBRE.

“1 Old Country Rd. has undergone a remarkable transformation over the past several years, and we’re seeing strong demand from major institutional and government tenants that value the scale, infrastructure and accessibility the property provides,” said Koukou. “The Department of War’s commitment further validates the extensive repositioning of the building and reflects the continued momentum we’re seeing as the property fills following its post-pandemic leasing surge.”

Located in Nassau County, 1 Old Country Rd. is a five-story, 320,000 s/f office building that has undergone a major, $22 million repositioning in recent years. Ownership has invested heavily in upgrades including a new façade, windows, lobby, bathrooms, upgraded wiring and technology infrastructure, modernized sprinkler systems and enhanced building systems throughout.

One of the building’s most distinctive features is its parking capacity for approximately 1,600 vehicles, made possible through a newly constructed parking deck — comprising more parking spaces than any other office building in the Garden City/Carle Place area.

The property has experienced significant leasing momentum following the pandemic, with more than 200,000 s/f of space leased in recent years as tenants are drawn to the building’s modern infrastructure and large, efficient floorplates.

Among the building’s largest tenants is the Federal Aviation Administration (FAA), which signed a 15-year lease in 2023 for 74,000 s/f, occupying the entire fifth floor and half of the fourth floor. The FAA relocated its Eastern Regional administrative headquarters to the property from Jamaica, Queens, as part of its nationwide network of regional offices responsible for outreach initiatives, emergency transportation preparedness and oversight of aviation programs and operations.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking