Verizon Leases 33,500-SF Woodside Building

NEW YORK CITY-Telecommunications conglomerate Verizon will move its Queens base of operations to a 33,500-sf building in the borough’s Woodside section. The deal marks the company’s third New York City-area lease transaction in the past year.

The facility, located at 37-20 Woodside will serve as a staging area for engineers and repair personnel and as a storage site for Verizon equipment and vehicles. Thomas Panitz, David L. Noonan and Jennifer Schwartzman of Newmark & Co Real Estate brokered for Verizon in the transaction. Building owner San-Aid was represented by Michael Oestreich of Nationwide Property Consultants. Details of the 10-year lease were not released.

During the past year Verizon has inked deals for 24,105 sf of office space at One Cross Island Plaza in Rosedale, NY. The firm also renewed the lease on its 15,393-sf space at 11 Broadway. Both transactions were arranged by Newmark.