Granite Buildings Attracts Two New Tenants

WOODBURY, NY-The second phase of Lalezarian Properties’ newly developed office complex known as the Granite Buildings in Lake Success, continues to attract multiple tenants due to a successful “preleasing” campaign spearheaded by the Long Island office of CB Richard Ellis. Two new tenants sign long-term leases for a total of almost 50,000 sf as a result.

Queens-Long Island Medical Group PC has committed to a 20-year, 32,000-sf lease within the 300,000-plus-sf class A complex. In addition, Reunion Newco has signed a long-term 15,000-sf lease. Both tenants plan to occupy the property by early 2008, when Phase II will be completed.

A source close to the deal tells GlobeSt.com that the terms of the lease could not be disclosed. They did say that overall average rental rates for a class A property here according to Q3 reports are $31.79 per sf.