Motorola signed a 24,138-sf lease for 200 Building at 3500 Sunrise Hwy., which is owned by Garden City, NY-based Metropolitan Realty Associates. Move-in is planned for the fourth quarter.

"The town of Islip Industrial development agency, the IDA, fixes taxes at $1.62 [per sf] for five years," Joseph Farkas, president of Metropolitan, explains to GlobeSt.com, "and escalates it over the next 10 years, 3% per year. So, it was a pretty attractive tax program that I put in place at the time I purchased the building." According to the release, tenants will know their tax obligations in the 388,000-sf complex.

"Also, the building is in an Empire Development Zone," Farkas says, "which affords tenants additional incentive for employment sales tax credits from New York state, utility purchasing discounts and sales tax relief." The business center supplies its tenants with building-wide WiFi, cafe, concierge services and a 300-seat conference center.

Recommended For You

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • 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

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more information visit Asset & Logo Licensing.