Newmark Grubb Knight Frank (NGKF) has accelerated leasing at the three-building Hauppauge Office Park, securing two new tenants for a total of 19,924 square feet at the Class A Office Complex in Hauppauge, Long Island, on behalf of the property owner.
Urban Financial of America, one of the top reverse mortgage lenders in the U.S., has signed a new, long-term lease for 12,625 square feet at 888 Veterans Memorial Highway. Wells Fargo Advisors will be relocating its Smithtown, N.Y., branch office to a new 7,299-square-foot space in the same building.
“Urban Financial and Wells Fargo were impressed with the ownership’s ongoing commitment to provide a first-class, cost-effective working environment that is easily accessible for their clients and employees,” said NGKF Managing Director Scott Berfas.
The office park totals 278,000 square feet across three buildings at 878, 888 and 898 Veterans Memorial Highway. Owned by Hauppauge Office Park Associates LLC, the property is situated just off the Long Island Expressway and Northern State Parkway and offers a modern work environment, including on-site management, around-the-clock security, a cafe with indoor and outdoor seating, a fitness center with racquetball courts, a conference center and a full-service bank.
Edward Glackin, COO of Colin Development, the Managing Affiliate of Hauppauge Office Park, said, “Ownership’s ability to attract new, high-quality corporate tenants is a reflection upon its strategy of maintaining a Class A office complex with significant recent upgrades and unparalleled service.”
Mr. Berfas, NGKF Managing Director Dan Oliver and NGKF Associate Director Jordan Oliver represented ownership in both transactions, as well as Urban Financial in its lease. Darren Leiderman and Michael Cohen of Colliers International represented Wells Fargo Advisors.
The NGKF team, which was appointed exclusive leasing agent in April, is marketing the remaining availabilities totaling approximately 27,000 square feet with multiple options ranging from 12,105 square feet to 2,451 square feet. The office park is now at 90 percent occupancy.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.