Milvado signs nine leases totaling 54,082 s/f in the first quarter

Syosset, NY Milvado Property Group ended the first quarter of the year on a high note by signing in the past 60 days nine new and renewal leases totaling 54,082 s/f at properties within its Long Island industrial portfolio. Combined with the 51,431 s/f of leases signed since the beginning of 2019, Milvado’s total s/f leased in the first quarter comes to 105,513 s/f.   

“We don’t see this buoyant level of leasing activity abating as the year progresses,” said David Hercman, director of asset management, Milvado Property Group.“Because the existing inventory of industrial space simply cannot accommodate the continuing demand from e-commerce retailers to warehouse consumer products.” 

The majority of the 54,082 s/f (26,514 s/f) was leased in Ronkonkoma; 18,468 s/f was negotiated in Syosset and 9,100 s/f in Huntington Station. Details of the deals are as follows:

Suffolk County

• 90 13th Ave., Ronkonkoma: Alternate Packaging renewed 11,084 s/f. The landlord negotiated the renewal in-house.

• 151-171 East 2nd Ave., Huntington Station: Master Mechanical Corp. signed a new lease for 9,100 s/f. Desmond Mullins, Industry One Realty, represented the tenant, while the landlord acted on its own behalf in-house.

• 33 Comac Loop, Ronkonkoma: Optimal Corporate Consulting signed a new lease for 810 s/f. Ed Pidgeon of Coldwell Banker, represented the tenant, while the landlord acted on its own behalf in-house. Bi-County Distributors, Inc. also renewed 4,000 s/f at this property. The landlord and tenant were represented in-house. 

• 101-125 Comac St., Ronkonkoma: Vibleo Group Inc. signed a new lease for 9,785 s/f. Richie Cohen of Ashlind Properties, represented the tenant, while the landlord acted on its own behalf in-house. 

• 200 13th Ave., Ronkonkoma: Diversified Dental Sales & Service Inc. signed a new lease for 1,050 s/f. The landlord represented both the tenant and itself in-house.

Nassau County

• 6851 Jericho Tpke.: Elmo USA Corp. signed a new 2,666 s/f lease. Justin Maiorano of Colliers represented the tenant, while the landlord acted on its own behalf in-house. 

• 575 Underhill Blvd.: Finao Online LLC signed a new 15,000 s/f lease at this property. The landlord negotiated the deal in-house. Doreen Jewelry Inc. also renewed its 802 s/f lease at the property. The landlord negotiated the transaction in-house.