CBRE has been appointed because the leasing agent for the 1.1 million-square-foot Lake Success Quadrangle.
The 11-building complicated on 54 acres is one among Lengthy Island’s largest workplace parks. Bordered by the Northern State Parkway, New Hyde Park Street and Marcus Avenue, Lake Success Quadrangle’s present tenant roster consists of ProHealth, Northwell Well being, NYU Langone, Catholic Well being Providers, New York Most cancers & Blood Specialist and lots of others.
The CBRE crew of Daniel Brandel and Robert Seidenberg will spearhead the leasing task on behalf of homeowners TPG Angelo Gordon and The We’re Group. They’re advertising and marketing accessible areas on the complicated that vary from 2,000 sq. toes to as a lot as 120,000 sq. toes. Asking rents on the Quadrangle are $36 a sq. foot for workplace and $42 a sq. foot for medical makes use of.
“The Lake Success Quadrangle boasts Class A medical and workplace choices to fulfill quite a lot of house wants,” Brandel stated in an announcement from the brokerage agency. “The present tenant base of premier medical workplace customers prompts the complicated, and the situation makes it extraordinarily engaging to potential tenants looking for to faucet the workforce close to giant inhabitants facilities in Queens and Nassau County.”
Traditionally, the property’s leasing was dealt with instantly with possession, nonetheless, CBRE will now be working alongside The We’re Group in advertising and marketing and leasing. Whereas its present occupancy fee stands at about 93 p.c, the hassle will think about filling the accessible house.
“We stay up for working with the We’re crew to convey a large-block medical tenant to this extremely fascinating property in a market with restricted Class A availability,” Seidenberg stated.
Developed by The We’re Group, the primary buildings on the Lake Success Quadrangle had been constructed in 1968 and the remaining had been accomplished inside the subsequent few years. The workplace park has since undergone many main renovations and upgrades.