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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.
Melville
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
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
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.
Good Luck!
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