A spokesman for Williams Real Estate, which brokered the $35-million deal, says Cox will save about $1.65 million in rent per year, or 50% of its current rent, by moving out of Manhattan and into Steel Equities' 1650 Old Country Rd. Additionally, the aerospace contractor is receiving incentives from Nassau County and New York State.

"This was a highly unusual and intricate deal, with several organizations involved and a lot of moving parts," says Robert Tunis, senior executive managing director at Williams Real Estate, in a release. "Cox & Co. was hesitant to move before the end of its lease in 2010, and Steel Equities was hesitant to lock into a deal so far in advance. After many months of negotiations, the planets all came into alignment and now, a defense contractor is moving to Long Island instead of away from it."

Cox began working with Williams three years ago, hoping to remain in Manhattan, where it occupies 104,000 square feet at 200 Varick St. However, in the years since Cox first set up shop on the once-industrial Varick Street, the area had transformed into the Hudson Square office submarket and renewing in place would have been prohibitively expensive, according to a release. The commonwealth of Pennsylvania, the state of New Jersey and New York City's outer boroughs all sought to lure the 200-employee Cox, the release states.