Cushman & Wakefield, a leading commercial real estate firm, has successfully secured three long-term leases at 2 Corporate Center Drive in Melville, Long Island. This Class A office property will now be occupied by Estee Lauder (43,000 square feet), Resideo Technologies (100,000 square feet extension), and East Coast Capital (20,000 square feet). These new leases have increased the occupancy rate to an impressive 94%.
Representing the landlord Princeton International Properties was Phil D’Avanzo of Cushman & Wakefield. The tenants were represented by Jeff Nemshin of Paragon Group for Estee Lauder and Harris Rousso of Real Estate Strategies for East Coast Capital.
D’Avanzo stated that these transactions are among the largest office lease deals on Long Island in recent history. Despite challenging market conditions, securing these long-term tenants is a testament to ownership’s dedication to this asset and its exceptional value proposition.
This news marks another success story for Melville’s thriving commercial real estate market as it continues to attract top companies looking for premier office space.
