Major new lease on LI.
Vice President Joseph A. Farkas negotiated the transaction for the owner.
The tenant leased the space, which comprises the entire fifth floor of the building, for a term of 15 years. Margolin, Winer & Evans will relocate to its new space from 600 Old Country Road, Garden City. According to Farkas, the accounting firm required contiguous space to consolidate various offices as well as provide for future growth. This represents the largest new office lease in Nassau County this year.
Herb Agin and Richard Someck of Sutton & Edwards, Inc. (Lake Success) represented the tenant in the transaction.
This lease brings 400 Garden City Plaza to 80 percent occupancy. Tenants in the 174,412-square-foot building include Scully, Scott, Murphy & Presser, Utica Mutual Insurance Co. and Metropolitan Life Insurance Co.
The blue reflective glass, five-story building, which was completed in 1988, is located directly across from the newly renovated Roosevelt Field Mall. Features include a five-story atrium lobby, tenant-controlled HVAC and 24-hour access. It is just off the Meadowbrook Parkway and easily accessible to the Long Island Expressway and Northern State, 25 minutes from midtown Manhattan.
This lease represents the first major Long Island transaction of the newly formed Koll/Tishman Management Services, a division of Koll Management Services.
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|Title Annotation:||Margolin, Winer and Evens leases commercial space in Garden City, Long Island, New York|
|Publication:||Real Estate Weekly|
|Date:||Jun 2, 1993|
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