
Ronkonkoma, NY Michael Zere, executive vice president, Zere Real Estate Services exclusively represented his customer Leviathan Solar Inc. in leasing 4,500 s/f of industrial space at 1997 Pond Rd.
“The customer had been looking for the right kind of industrial space with adequate loading for several months. After being offered this property they were pleased with the location. The industrial space site is strategically being situated off the Long Island Expressway (LIE), Veterans Memorial Highway and Sunrise Highway. They consider the MacArthur Airport Vets Hwy Business Corridor and The Ronkonkoma Business Hub as being very efficient for their distribution location and readily convenient for their employee base.” said Zere.
The owners of the property 1993 Pond Road LLC were satisfied with their new long term tenant in this lease transaction.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,