West Hempstead, NY According to ACC Space, Joseph Sorbara, director, represented the owners of a 175,500 s/f industrial complex on Terminal Rd. in several leases. The leases bring the property to 100% occupancy.
Among the recent leases are:
- 4 Terminal Rd.: A dental equipment distribution company signed a new 10-year lease totaling 7,000 s/f.
- 3 Terminal Rd.: A clothing distribution company, which was a current tenant, signed a newly negotiated 3-year lease for 10,000 s/f at market rates. Their current lease was due to expire and they had no renewal available.
- 7A & 2 Terminal Rd.: A baseball/multi-sports training tenant signed a new 10-year lease with expansion, now at 37,000 s/f. The tenant had originally leased 20,000 s/f, but their lease was due to expire, with no renewal available.
- 5 Terminal Rd.: A new tenant, a security equipment installation company, signed a 7-year lease for 20,500 s/f.
- 6 Terminal Rd.: A building supplies company signed a newly negotiated 10-year lease at market rates for 10,000 s/f. Their current lease was due to expire, with no renewal available.
- 365B Terminal Rd.: A storage/moving company signed a new five-year lease for 10,000 s/f.
- 365A Terminal Rd.: A manufacturing company negotiated a new 5-year lease extension at market rates for 12,000 s/f. Their lease was due to expire and the tenant decided to downsize.
According to Sobara, “This complex has been servicing the community in a positive way for over 20-years when the sports facilities both originally moved in. They have been bringing young athletes and families together to prepare them to reach their sports goals, along with teaching all the valuable life-lessons that come along with being an athlete. In addition, having a fully-leased industrial complex creates a safer environment for the immediate community. It keeps homeless people out from squatting in vacant space & creates additional employment for the immediate area. Any residential owners living near an industrial park prefers no vacancies, it makes a better environment for the surrounding area which includes a major shopping center off Hempstead Turnpike, a major supermarket, Adelphi University, golfcourses and little league baseball/softball fields.”
The firm’s management arm also handles all the property management for the complex.