Tenant loyalty and trust makes a difference.New speculative development and consolidation within the banking industry have contributed to a rise in overall availability rate on Long Island to over 13 percent, up from about 9 percent the same time last year. While smaller deals and renewals have dominated leasing activity, the overall Nassau County Nassau County is the name of two counties in the United States of America:
Despite new and returned space on the market, The Treeline Companies, which has a portfolio of top quality office buildings that includes nearly million square feet in Nassau County, has been able to maintain a better than 95 percent occupancy rate Noun 1. occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time pct, per centum, percent, percentage - a proportion in relation to a whole (which is usually the amount per hundred) throughout our Class A office portfolio by reinvesting in our properties, capitalizing on the value of our assets in a rising market and offering handson management and flexible solutions to our tenants' office space needs. Over the past two decades, The Treeline Companies has built a reputation for quality ownership and intelligent investment throughout New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Long Island and Westchester County. The company has recently launched an aggressive acquisition campaign targeting Class A office properties throughout the tristate area. The firm's proven and successful approach to investment and property management has been the result of its strong ties and unflagging commitment to the communities it serves. Its management employs creativity, ingenuity and market expertise for its success, which is clearly illustrated in Treeline's strong portfolio of value enhanced assets. A good example of this successful approach was demonstrated with The Treeline Companies recent lease with 1-800-Flowers.com, which was one of the largest deals on Long Island this year. The tenant, one of the nation's most recognized brands in gift retailing, relocated re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. and expanded its operations from its former headquarters in Westbury, NY, to 90,000 s/f of Class A office space at 1 Old Country Road in Carle Place, NY in a 12.5-year lease transaction that is expected to result in the creation of 100 jobs. During the highly complex negotiations leading up to the successful lease transaction, the Internet retailer was wooed by competing offers from not only other Long Island building owners, but from government economic development officials in Virginia, Illinois Virginia is a city in Cass County, Illinois, United States. The population was 1,728 at the 2000 census[1]. It is the county seat of Cass County.GR6 Geography Virginia is located at (39. , Ohio and California, as well. Treeline's outstanding relationship with existing office tenants, especially eHomeCredit Corp., made the difference in making Treeline's the winning bid for 1-800-Flowers' tenancy A situation that arises when one individual conveys real property to another individual by way of a lease. The relation of an individual to the land he or she holds that designates the extent of that person's estate in real property. . At the beginning, we had only 53,000 s/f of Class A space available at the property. We knew we needed to offer at least 90,000 s/f and we found the extra space by working with our exceptionally loyal tenant base to shift their operations to other Treeline space in our nearby buildings. This creative, complex transaction exemplifies the climate of mutual loyalty and trust that we cultivate cul·ti·vate tr.v. cul·ti·vat·ed, cul·ti·vat·ing, cul·ti·vates 1. a. To improve and prepare (land), as by plowing or fertilizing, for raising crops; till. b. throughout our tenant base. It also shows that Treeline will go the extra mile for its tenants. We are long-term-hold owners and likewise we value long term relationships. Winning 1-800-Flowers was a milestone transaction. We recently invested $8 million in a comprehensive building improvement program at One Old Country Road, and we knew that would be a plus for us. Then we literally found office space where none existed before. This was a terrific deal for us and will designate des·ig·nate tr.v. des·ig·nat·ed, des·ig·nat·ing, des·ig·nates 1. To indicate or specify; point out. 2. To give a name or title to; characterize. 3. 1 Old Country Road as a business landmark on Long Island. Upon completion of our recent renovation of One Old Country Road, The Treeline Companies announced the commencement of a similar multimillion dollar commitment to upgrades at 400 Garden City Plaza City Plaza is a shopping mall in historic downtown St. Albert, Alberta, Canada. This shopping plaza features heritage architecture and a European small shop ambience. It is home to BITNETS, the award winning technology business, other upscale offices and boutique-style shops. , which the company purchased from Reckson during the second quarter of 2004. At The Treeline Companies, we believe new job creation in the region will likely heighten height·en v. height·ened, height·en·ing, height·ens v.tr. 1. To raise or increase the quantity or degree of; intensify. 2. To make high or higher; raise. v.intr. demand for office space in the near term, as experts estimate that each new job translates into a need for approximately 200 square feet of space. FRANCES SCHOR PRESIDENT AND CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , THE TREELINE COMPANIES |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion