Long Island has been a growing economic power for the last 3 decades. Companies that only saw New York City as a viable option for their business years ago, now see Long Island as a strong place to rent office space.
Class “A” and “B” office space
Class “A” office buildings offer the newest offices on Long Island. These buildings usually offer newer construction, corporate location, Information desks, Exercise rooms and cafeterias. They are the top office leases that are available. They are more expensive per foot than Class “B” space in the same area. Small or start up companies with limited capital, may want to avoid this type of space initially. The rent and taxes can be rough for a small business. Larger companies will see this as the only option. A company like Merrill Lynch or Washington Mutual will normally not inhabit anything less than Class A space.
Some areas where you will find the most attractive Class A and class B office buildings:
Garden City and surrounding areas
The advantages of Garden city are that is close to the city, has good railroad access and is surrounded by other large companies. It is one of the more expensive areas on Long Island for high end building office space.
The Route 110 area in Melville has the most concentrated areas of Class A office space on Long Island. It is a very desirable location. It can be expensive, but there normally is a good amount of vacancy, so you may cut some good deals. There are Class “B” offices that are very suitable for leasing as well.
Hauppauge is further east, but it is a major area for business on Long Island. It is similar to Melville, because of it’s access to the LI expressway and with it’s one or two primary desirable streets (Motor Parkway and Veterans Memorial Highway). It has lower Class A rents than Garden City and Melville usually. There are many fine restaurants as well for business lunches.
Bohemia and it’s surrounding area is further south than Hauppuage. This area has very attractive lease options for space ranging from small to whole buildings. Bohemia has a lot of new buildings, and some are at half the price as Garden City. It is Near Islip Airport as well.
Most building owners are looking for 5 year leases, but 3 years is not hard to negotiate.
Furnished Instant Office Lease
These offices allow a small business to move right in to a staffed office. These set ups have become very popular for self employed business owners who may be working out of their house or paying too much for traditional office space. A staffed office includes utilities, phone lines, Internet more. The lease arrangements are very flexible, with some as short as 30 days month-to-month.
The Long Island office space market varies from year to year, but if you are flexible on what you want, you will find an attractive home for your business.