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Grumman, College Sign 210,000 SF of Renewals

BETHPAGE, NY-Briarcliffe College and Northrop Grumman are staying put at 1055 Stewart Ave., a nearly full office property originally developed by Grumman.

By Paul Bubny | Updated on November 25, 2009

BETHPAGE, NY-Briarcliffe College and Northrop Grumman Systems have inked sizable renewals at 1055 Stewart Ave. here, with the two deals totaling more than 210,000 square feet. The college, a 15-year tenant, is staying in its 116,500-square-foot space, while Northrop Grumman’s engineering and development division, which has been in the building for 10 years, has renewed for 94,128 square feet.

Terms were not disclosed; the renewals came with deep discounts, according to published reports. “There was considerable competition from other office buildings to lure these important tenants away,” says Sanford Zuckerbrot, chairman of Sholom & Zuckerbrot Realty, which acted on behalf of landlord Tilles & Zuckerbrot, in a release. However, he adds that the tenants ultimately decided that “both the building and Bethpage are hard to beat.”

Frank Zuckerbot, president of S&Z, notes in a release that Bethpage is a vibrant office market, with headquarters for Cablevision, mattress retailer Sleepy’s, Bethpage Federal Credit Union and supermarket chain King Kullen all located nearby. “And the area is poised for continued growth,” he says. “It was heavily dominated by Grumman for decades, but it has diversified greatly during the past 15 years.”

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