A view of Long Island's commercial real estate reflecting recent growth and demand across multiple sectors.
Recent commercial real estate transactions on Long Island show a thriving market as businesses, spanning various sectors, expand operations. Noteworthy deals include AJ Tutoring leasing a new location, Herc Rentals improving logistics, and the purchase of a building for a new birthing clinic. The trend reflects an increasing demand for space as companies invest in enhancing their service offerings, particularly in healthcare and wellness. Prominent real estate firms are actively involved, indicating robust activity in Long Island’s commercial property sector.
Long Island, NY – A series of recent commercial real estate transactions on Long Island indicates a burgeoning market as businesses expand their operations to meet rising demand and competitive pressures. Companies from various sectors are leasing and purchasing properties to enhance their service offerings and increase space for operations.
A notable transaction involves AJ Tutoring, which has leased 5,100 square feet at 585 Plandome Road in Manhasset. This marks the tutoring service’s expansion into New York following its acquisition of TestTakers. The location is currently under construction and is anticipated to open its doors in the fall of 2025, indicating a commitment to growth and increased accessibility for clients in the region.
In Farmingdale, Herc Rentals has leased a 15,210-square-foot industrial building at 80 Sherwood Ave. This move from their previous location at 208 Route 109 is set to enhance their operations with additional office space and two drive-in bays, allowing for improved logistics and service capabilities.
Additionally, Judy Bush has purchased a 3,750-square-foot office building at 1512 Broadway in Hewlett for $1.45 million. The new facility will be repurposed to open a birthing clinic and was delivered vacant, allowing for immediate refurbishment and preparation for operations. This investment highlights a growing focus on healthcare services in the region.
Angela Guerra Skincare has also made its mark with the leasing of a 1,246-square-foot office suite at 124 Main St. in Huntington. This location will serve as the first establishment for the skincare business on Long Island, offering massage and skincare services and indicating an increasing interest in wellness industries in the area.
Another significant transaction involves Hydronic Supply, which purchased a 5,132-square-foot retail building at 2077 Jericho Turnpike in Commack for $1.625 million. This property acquisition will facilitate the company’s relocation from 1090 Jericho Turnpike, taking over space that was formerly home to Acer’s Florist & Garden Center. This move underscores Hydronic Supply’s strategic growth in the retail sector.
The variety of lease and sale transactions occurring reflects a dynamic commercial real estate environment on Long Island. Companies across different sectors are actively seeking more space and diverse locations as they strive to compete effectively and meet increasing client demands. This trend is particularly evident in the service, healthcare, and industrial sectors.
Involved in these transactions are several prominent real estate firms, including TEK Realty Advisors, Mogil Realty Group, American Investment Properties, Winkler Real Estate, Scout Realty Group, and Douglas Elliman Real Estate. Their participation underscores the vitality of Long Island’s commercial real estate market and suggests robust activity moving forward.
Overall, the recent growth in commercial real estate transactions on Long Island exemplifies a significant trend of businesses responding to market demands and strategically positioning themselves for future opportunities. As companies continue to invest in their operational capacities, the region can expect continued expansion and diversity in commercial offerings.
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