Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LAKE SUCCESS, NY-Long Island-based Sholom & Zuckerbrot Realty has arranged a 47,000-sf lease on behalf of the Health Insurance Plan at Phase II of the Granite Buildings, a class-A office complex under development at 1991 Marcus Ave. here. The asking rent was $39 plus $3 electric per sf, a source close to the deal reveals to GlobeSt.com.

The source did not disclose aggregate lease values or taking rent at the property. HIP leased the entire second floor for a medical center for a term of 20 years. The tenant is expected to occupy the space, upon completion of construction, in late summer or early autumn of this year.

“When HIP was looking to expand its space a decade ago, we discovered that there were very few relocation options in the Lake Success area due to the complexity of building codes and a lack of large blocks of space for medical tenants,” says Gail Roseman, EVP of S&Z, who has worked with HIP for more than 25 years. “When HIP’s lease was near expiration, we immediately approached the Granite Buildings.”

Roseman continues that the brand new office complex “offers ample space for medical use, and it is conveniently located on two major roads near the Queens/Nassau border. In addition, the location is close to several major highways and within two miles of local hospitals.” The tenant is relocating from offices in two adjacent buildings, located at 2035 Lakeville Rd. and 4010 Lakeville Rd. in New Hyde Park.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.