Hauppauge, NY RC Commercial Partners, the commercial division of Realty Connect USA, completed an office lease transaction.
Hanover Bancorp, Inc. has leased 6,850 s/f at 410 Motor Pkwy. This space represents both Hanover’s first major operations and lending office in Suffolk County, and the second major tenant announced at the building, which will be opening this summer. Terms of the 5+5-year lease transaction have been kept confidential.
410 Motor Pkwy. is a new 35,000 s/f office building, a $15 million speculative development by Aresco Management. The four-story building, designed by WSJS Architects, boasts post-modern architecture, with amenities such as electronic UV smart windows and EV charging stations.
Ron Epstein of RC Commercial Partners represented Hanover Bancorp and Aresco Management was self-represented in this transaction.
Hanover Bank raised over $30 million in its initial public offering earlier this year, and this expansion demonstrates Hanover’s commitment to servicing its clients in the finest class A office building available in the region.
“We look forward to becoming an integral part of this economic hub by hiring from the vast talent pool that exists in the area, by contributing to the local economy, and by working and transacting business with many of Long Island’s most successful organizations and municipalities,” said Michael Puorro, chairman and CEO of Hanover.
“This location strengthens our Long Island presence and allows us to leverage our existing relationships across business lines to deliver unparalleled service to this region and growth to our Bank.”
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