Colliers, the leading global commercial real estate services firm, announces it has partnered with TRITEC Real Estate Company to lease 195,000 square feet of retail space at Station Yards, a best-in-class mixed-use project on Long Island. A Colliers team led by Vice Presidents Maria Valanzano and Steven D’Orazio — with the support of Anjee Solanki, National Head of Retail and Jake Horowitz, Associate Vice President — was selected to lease the space due to its deep retail expertise and knowledge of the rapidly growing and evolving Long Island commercial real estate market.
TRITEC and Colliers have partnered to lease the space amid a national retail resurgence. Driven by a return to in-person shopping and strategic construction, nationwide vacancies are at their lowest levels in 15 years and in 2021, more stores opened than closed for the first time since 1995. The available space at the billion-dollar housing-retail-office Station Yards project, also known as the Ronkonkoma Hub, is expected to reinvent the area’s retail business community.
“Tritec has truly reimagined the future of living, working and shopping on Long Island,” said D’Orazio. “The project’s planned village green, outdoor experiences and premier retail space will be incredibly attractive to a variety of businesses looking for space in a best-in-class, mixed-use town center style community. We’re proud of the work that we have done with Tritec on various projects over the years and we anticipate strong interest from authentic Long Island brands at Station Yards.”
“Station Yards is creating a vibrant new entertainment district that is redefining the Long Island retail sector, capitalizing on strong demand for in-person experiences,” said Chris Kelly, Vice President of Marketing at TRITEC. “This transformative project will help the community move forward in becoming an idyllic location for live-work-play and we’re proud to be laying the groundwork for future best-in-class mix-used locations.”
Set to be completed in 2024, Station Yards is pioneering the future of mixed-use space on Long Island and providing a blueprint for other developers. In addition to the retail space, Station Yards will consist of 1,450 apartments and 360,000 square feet of office space. Situated next to the busiest railway station in Suffolk County which transports 17,000 riders every day to New York’s Penn Station — and with its recent opening, Grand Central Madison Station — the live-work-play development is proving extremely attractive to commuters, those who work in the local area, families with children and more.
Station Yards is located immediately off Exit 60 of the Long Island Expressway and adjacent to the Long Island MacArthur Airport. Spanning 53+ acres surrounding the Ronkonkoma Long Island Railroad Station, it offers commuters and visitors seamless access and will further draw shoppers, diners and workers from all over Long Island. Colliers and Tritec are now pre-leasing retail space at Station Yards and are on track to deliver for tenant build outs by June 2023.