Real Estate Weekly
Image default
Deals & Dealmakers

Regus rethinks Long Island space needs

The CBRE team of Vincent LaManna, Richard Freel and Peter Danna represented Regus, the flexible workspace provider, in three transactions comprising two lease renewals and an expansion.

Regus renewed its leases at RXR Realty-owned RXR Plaza in Uniondale, N.Y. and 68 South Service Road in Melville, N.Y. totaling 31,500 s/f and 35,500 s/f, respectively.

The firm also committed to a full floor at 200 Broadhollow Road in Melville, expanding from its previous 16,500 s/f to 20,200 s/f.

“Regus is the leading office suite operator in the market, offering strategically located office suite options all over Long Island,” said LaManna.

“These transactions allow the firm to maintain its leadership position in the office suite segment and incorporates an enterprise element for corporate clients who want flexible short-term occupancy agreements without heavy upfront construction costs.

“The RXR properties, RXR Plaza and 68 South Service Road, represent two of the most prestigious office addresses in Nassau and Suffolk counties, while 200 Broadhollow Road presents the perfect location for Regus to kick off its enterprise business.”

Each building is highly visible and proximate to major roadways as well as railroad hubs in Long Island’s most vibrant business corridors.

200 Broadhollow Road is situated in the heart of the Route 110 corridor while 68 South Service Rd. is located on the Long Island Expressway. RXR Plaza offers convenient entry to the Meadowbrook State Parkway. The locations are centrally located with immediate access to a wide variety of retail, dining and hotel amenities.

“As workers continue to migrate to suburban markets and away from larger metros, the presence of Regus will continue to grow in these areas as well,” said Michael Berretta, VP of Network Development at IWG, owner of Regus. “With over 100 locations in the tri-state area, suburban growth is something that will continue to be a priority for the entire IWG network.”

(Visited 1 times, 1 visits today)

Related posts

AEW acquires Hudson Square boutique for $86M

REW

City gives go-ahead for Flatiron BID expansion

REW

Fried Frank renews 400,000 s/f office lease at One NY Plaza

REW