Q4 2018 Long Island Market Report
The Long Island market continues at a slow but steady pace, improving over each previous quarter and remaining healthy. The fourth (4th) quarter experienced several major transactions across every discipline; retail, office and industrial.
The retail sector, however, has been hampered by the exodus or bankruptcy of several national retailers.
The industrial market has outpaced the other sectors with substantial increases in rent and increases in the cost per square foot to purchase.
A large contributor to the increase is due to the migration of tenants/buyers from Long Island City and NYC boroughs acquiring Long Island facilities at “discounted” rents and lower acquisition costs.
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