And a third unnamed local firm is considering committing to the entire 183,000 sf of a planned but not yet built second phase of the project. "We're in the process of doing leasing now, talking to several major companies now to be the anchor tenant (at Phase One), one for 60,000 sf and one for 100,000 sf. We're also negotiating with a tenant for the entire second building," Theodore P. Sasso, senior managing director of Insignia/ESG, leasing agent for building, tells GlobeSt.com.

"The companies we're speaking with already have major operations on Long Island, which is typical of what we see," Sasso says. "It reinforces the trend for companies demanding higher quality space on Long Island. We're finding more and more that the real quality buildings are the ones that are getting the tenants."

The asking rent at 100 Motor Parkway is $27.50 sf including a full tenant interior build-out and full service. Phase One of the project, the West Tower, includes 217,000 sf --183,000 of office space and a 34,000 sf lower level including storage, cybercafe, a health club and other amenities. Floor plates are little over 30,000 sf for upper floors. Groundbreaking occurred on St. Patrick's Day this past March and the entire project will be completed in ten months. Tenants could move into space within two months from now after acquiring necessary approvals.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.