Largest of the leases at Broadhollow Corporate Center was an extension and expansion by Town Total Nutrition, Inc., a home health care provider and specialty pharmacy. Town Total extended its lease there and expanded into 7,396 square feet. Another extension/expansion came from the Juvenile Diabetes Research Foundation. The foundation, which had occupied 1,781 square feet, extended its lease and expanded its space to 3,489 square feet. Representing the JDRF was Seth Leiderman of Sutton & Edwards Inc./TCN Worldwide, based in Lake Success, NY.
Property & Casualty Subrogation Group LLC, which provides services for insurance companies, signed a new lease for 2,149 square feet at 532 Broadhollow. The company, which formerly was located at 1600 Stewart Ave. in Westbury, was represented by Harris Rousso of Jericho, NY-based Real Estate Strategies Ltd.
Another new 532 Broadhollow tenant is TC Ravenswood Service Corp., a company formed by TransCanada Corp. to own and operate the 2,480-megawatt Ravenswood Generating Station in Queens. The Canadian-owned power supplier, which acquired the Queens power plant in August from Keyspan, took 2,081 square feet of office space. Finally, Thomas C. Varvaro, CPA, P.C. signed a new lease for 750 square feet at 1160 E. Jericho Tpke. in Dix Hills, NY. The firm previously was in Huntington Station, NY. The landlord was represented in-house in all of the lease negotiations by Craig Weiss, director of leasing.
In a release, Ted Weiss, president of T. Weiss Realty, comments, "All of this leasing activity, completed during the severe economic downturn, confirms the desirability of our product and the confidence that tenants have in us as a landlord. This, in turn, bolsters our own confidence in the health of the office market in Melville in particular and on Long Island in general."
Among the most active markets on Long Island, Melville is in line for another sizeable office tenant. As reported in June on GlobeSt.com, Canon plans to build its new corporate headquarters at a site just off Exit 49 from the Long Island Expressway. The site plan, which was filed in July, calls for a 690,000-square-foot, five-story building on a park-like setting with reflecting pools, along with other sustainable innovations such as the use of natural lighting and energy efficient materials. Canon currently employs more than 1,000 on Long Island and leases office space in Lake Success, NY. The company plans to double its employee base at the new headquarters.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
