Q3 Long Island Market Report
The Long Island market continues to move at a steady pace, improving over each previous quarter and remaining healthy. Availability in the office sector dipped significantly and predictably, rents rose slightly. Interestingly, there were few large (>20,000sf) office leasing transactions reported in the quarter.
The already tight industrial market was virtually unchanged, with availability and rents ticking upward just slightly. Several large industrial properties changed hands from users to developers/landlords including Newsday and Claire Rose and both will be marketed for lease to end users.