Twenty five years after the Coughlan family began building the Stony Brook Technology Center on 102 acres, their company, TRITEC Real Estate, has completed the last piece of the million s/f project.
TRITEC recently received the final certificate of occupancy, for a 40,000 s/f medical office condominium at 4 Technology Dr., completed late in 2011, the last of 26 buildings in the now-tree-lined campus. The first buildings in the park were constructed in 1987.
The newest building houses medical offices. Today, the park's occupants are one-third medical, one-third office and one-third high technology companies.
"This was a risky undertaking when we began planning the park," said Bob Coughlan, a principal of TRITEC. "Until then, most businesses were located close to labor pools and major highways. On Long Island that meant near the Long Island Expressway."
"Back then, we believed this project would attract science, technology and medical-based businesses interested in being in close proximity to the university and its hospital," said Jim Coughlan, also a TRITEC founder and principal. "Healthcare was a strong area of growth then and remains so today."
They guessed right. Today, 5,000 people work for almost 100 businesses in the park, Long Island's most prestigious office campus.
The University Hospital now accounts for more than a third of the occupied space. Tags: