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GEICO Direct Pays $10M-Plus for 41,500 SF in Westbury

NEW YORK CITY-Auto insurance firm GEICO Direct signs a $10 million-plus, 10-year lease for 41,500 sf in the two-floor Long Island office building, owned and managed by 875 Merrick LLC. Brokers say this deal marks the largest office space signing for Nassau County this quarter.

By Michael Gilliard | Updated on May 13, 2002

NEW YORK CITY-Washington, DC-based GEICO Direct pays $10 million-plus for a 41,500 sf lease at the 43,000 sf two-story building, located at 875 Merrick Ave. in Westbury. With this 10-year signing, the direct auto insurance writer plans to relocate its regional legal office in the former Long Island Telephone Co. building.

Neil Marchesano of Corporate National Realty brokered on behalf of GEICO, while Insignia/ESG’s Edward Fitzsimons and Theodore Sasso handled brokerage on behalf of the Nassau County property’s owner and manager, 875 Merrick LLC, a venture reportedly controlled by the principals of the now-defunct telecom provider.

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