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Long Island Office Leasing Blog Post

The New York metropolitan area’s office rents have flat lined in the first half of 2018, following a nearly 1 percent dip in 2017. Recent performance is a far cry from the early years of the recovery, when annual gains topped 5 percent for five consecutive years from 2011 to 2015. Asking rents are about 10 percent above their prerecession peak, but seem to have settled in the $55-$56 per square foot range. Static rents seem to be more attributable... ... Read more

Long Island Office Leasing Blog Post

The Annie Sez at the Pilgrim Shopping Plaza in Verona, NJ, is one of the stores closing in the next few months. It will be replaced by a Mandee shop, a sister brand.Credit: Linda Moss for CoStar Group Inc. Annie Sez, a regional women’s apparel chain, is closing or switching at least five of its stores to other brands, representing a dramatic downsizing of its baker’s dozen of remaining shops. Annie Sez, which was bailed out of bankruptcy by Canadian... ... Read more

Long Island Office Leasing Blog Post

South Broadway Holdings LLC sold the Bloomingdale Plaza shopping center at 750-764 S. Broadway in Hicksville, NY to a private investor for $6.2 million, or approximately $266 per square foot. The 23,341-square-foot building is approximately 85 percent occupied, anchored by Fresenius Medical Care. It was built in 2006 on 1.9 acres in Nassau County, and was renovated in 2015. Matthew Kucker of Colliers International represented the buyer. Neil... ... Read more