July 2017 Vol.9 Issue 10
Dear Friends ,

I love summer on Long Island. I would never consider purchasing a summer home, since our year-round home IS a summer home. Our house is perched on a hill to catch the breezes, has a garden that is currently producing more cucumbers than we can eat, and has a swimming pool close at hand. The living is easy. I hope your summer is just as appealing.

This month's article is all about the hottest industrial building market I have ever seen in my 44 years in commercial real estate. The purchase demand has outstripped the supply. The prices have been advancing quickly. And, they are not making any more of it! There is precious little speculative industrial construction on Long Island to add to the supply.

So, is this one of the best times in the last decade to sell industrial real estate? I believe it is, and make the case in this month's article, "Now is the Time to Sell."

Oh, the possibilities!

David G. Hunt
 
Now is the Time to Sell 
 by David Hunt
   
Q: 
Our company needs to expand out of a 20,000 square foot building we have owned for the last seven years. Do you have any recommendations on whether we should buy or lease larger quarters? Should we sell our present building?   

A: Let me start by issuing a caveat: Your circumstances are individual and are probably best addressed by your CFO or accountant. In general, however, the commercial real estate market on Long Island today favors selling your existing real estate and leasing the replacement facility.  Why is this so ...
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PROPERTY HIGHLIGHT
  
10 Daniel Street
Farmingdale, NY
   
 
The least expensive office space on Long Island?
 
3,000 to 6,000 Square Foot Office Space for Lease

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COMPANIES ON THE MOVE
  
Austin & Williams has leased space at 80 Arkay Drive, Hauppauge .
VidaBox has leased space at 125 Newtown Road, Plainview.
Precision Furniture has purchased 70 Dale Street, West Babylon.
More Than A Gym has leased space at 245 Newtown Road, Plainview.
TeleDomani has leased space at 532 Broadhollow Road, Melville.
DLS Mechanical has purchased 275 Jericho Turnpike, Floral Park.
COMPARABLE SALES IN THE LAST 12 MONTHS

City  Address               Property Type  Size SF   Office SF Acres Total  Sold Price/SF  Sold Date 
Hicksville 380 South Broadway
Office
Medical
10,000
.67 $225.00
6/30/2017
Plainview 200 Express Street Industrial
Office
19,800 6,000 1.5 $118.69 6/29/2017
Glen Cove
40 Garvies Point Road Industrial 73,000
5.2
$102.74
6/15/2017
Syosset
141 Eileen Way
Office
Industrial
10,000
1
$227.50
6/15/2017
New Hyde Park
2003 Jericho Turnpike
Office 12,000
.57 $195.83
6/6/2017
Oceanside
2994 Long Beach Road Industrial 10,669
.55 $78.70
6/5/2017


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