Leasing

The numbers on this submarket are attracting investors.

After merging with Aetna, CVS is evaluating all Aetna locations.

“The property's current occupancy of more than 97 percent combined with its access to retail and superior amenities made it a highly desirable investment for several public and private entities,” says HFF's José Cruz.

The sector achieved nearly 1 million square feet of growth between July and December of last year, with countywide vacancy reaching below 5% by year's end, according to Cushman & Wakefield.

“A new fulfillment center in Staten Island will help us meet the home furnishing needs of our customers in the New York metropolitan area,” says Ikea's Lars Petersson.

Westcore Properties executes a multi-level value-add strategy at 999 W. Town and Country Rd. here that involves entitling and selling a parking lot for apartment development, renewing an office lease and building a dedicated parking structure.

An improving market means more developments will probably trade hands in 2018.

Cushman & Wakefield's economic overview and office leasing year-end data indicate large corporations still believe in New York.