Long Island office vacancy down in third quarter 2000.Long Island's overall vacancy rate dropped from 8.3% to 7.5% this quarter, with considerable leasing activity from telecommunications companies, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a third quarter real estate report released by the research consulting group of Cushman & Wakefield of Long Island, Inc. Nassau county's class "A" office space exemplifies Long Island's low direct vacancy rates, with 2.9%, a decline from last quarter's 3.0%. Eastern Nassau county's direct vacancy rate is currently 1.9%. Western Nassau's 3.4%, and Central Nassau weighs in at 3.6%. At the third-quarter mark, year-to-date leasing activity totals nearly two million SF, up from 1.4 million feet last quarter, and 1.8 million SF last year at this time. Overall, direct asking rents continued to climb and now stand at $26.66 per SF, up from 1999's $25.33 and last quarter's $26.35. Suffolk county Suffolk County may refer to:
Three new developments will add to Suffolk county's base. In Melville, a 20,000 SF project is underway at 225 Old County Road, while a 277,081 SF project is going up at Reckson's Executive Park at 58 South Service Road. In Happauge, a 170,000 SF office construction began this summer at 100 Motor Parkway. MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. Telecommunications' 127,120 SF lease at 60 Charles Lindbergh Boulevard Lindbergh Boulevard named after the aviator, Charles Lindbergh, is a section of U.S. Route 67 that extends through Missouri. Often referred to as just Lindbergh a section of the highway in St. Louis County is highly popular to the teenage recreation of cruising. in Uniondale, Nassau county Nassau County is the name of two counties in the United States of America:
Rectangular open space completely or partially enclosed by buildings of an academic or civic character. The grounds of a quadrangle are often grassy or landscaped. in Jericho, was the largest lease of the year. Other top telecommunication transactions year-to-date include: * 85,000 SF to RTS (Request To Send) An RS-232 signal sent from the transmitting station to the receiving station requesting permission to transmit. Contrast with CTS. 1. (operating system) RTS - run-time system. 2. Wireless Inc. at 88 Froehlich Farm Boulevard in Woodbury. * 30,000 SF to Cosmocom at 121 Broad Hollow Road in Melville. * 17,400 SF to FatWire Corp. at 330 Old Country Road in Mineola. Class "B" office space returned to single-digit vacancy rates this quarter, dropping on an overall basis from 10.6% last quarter to 8.9% this quarter. Over the past year, the class "B" direct average rental rate jumped from $24.29 to $25.49, an increase of $1.20 per SF. "Once again this quarter, Long Island is posting record-low vacancy rates," said Kenneth M. Krasnow, regional managing director of Cushman & Wakefield of Long Island. "The new construction in Suffolk county reflects growing demand in the area. We predict that strong growth will not end anytime soon, particularly as telecommunication companies expand into the area. The increased appetite increased appetite Hyperphagia, polyphagia for high-tech conversion, as demonstrated by i-Park in Lake Success, will also continue, driven by companies seeking technologically advanced, competitively-priced rentals outside Manhattan." |
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