Metropolitan Realty Associates LLC, which only two months ago acquired one of Long Island's premier office locations, the Jericho Atrium, said it has signed new leases and renewals at the property totaling 9,267 square feet.
The new leases at 500 N. Broadway, a 145,000 s/f, class A building, included:
* James J. McCrorie, P.C., a personal injury law firm, rented 1,660 s/f.
* ShopBistro Inc., a multimedia retailing network, which leased 1,063 s/f.
Harris Rousso of Real Estate Strategies Ltd., exclusive leasing agent for the property, arranged the transactions.
Renewals at the property, also negotiated by Rousso, included:
* G. Marshall Communications Inc., a communications consultant, 1,518 s/f;
* Luxco Associates Inc., an insurance brokerage, 3,066 s/f;
* JMD Capital, 1,960 s/f.
New rents in the building exceed $30 per s/f per year.
"These lease signings are indicative of the desirability of the Jericho Atrium and its terrific location," said Joseph Farkas, president of Metropolitan Realty Associates, one of Long Island's largest owners of commercial properties.
Farkas plans to renovate the interior and exterior common areas of the building, including wall coverings, carpeting, and plaza seating in an ongoing effort to maintain the property's class A status.
The Jericho Atrium is located just north of the Long Island Expressway, adjacent to the Birchwood Plaza Shopping Center which has various restaurants and other retailers, including Whole Foods Market, Starbucks, CVS, a U.S. Post Office, State Bank of Long Island, Marshall's. Tags: