HAUPPAUGE, NY-Microsoft Corp. has allayed fears in the local business community that it was exiting Long Island by signing a long-term lease for 27,000 square feet of space at the 2929 Expressway office building here.
The property, located at Exit 57 of the Long Island Expressway, is owned by Ivy Equity of Greenwich, CT. Ivy officials state that the lease deal in Hauppauge is notable given some prior expectations that Microsoft might leave Long Island since the firm signed for significant space at 11 Times Square in Manhattan earlier this year.
Ivy Realty also reports that Bohler Engineering, a New-Jersey based site civil engineering and consulting services firm, has leased 20,700 square feet in the same building. 2929 Expressway will serve as Bohler’s New York Metro branch covering Long Island, the five boroughs of New York City, Westchester County and parts of Connecticut.
“These new leases illustrate that premier corporations continue to recognize how important it is to retain a presence on Long Island,” states Rusty Warren, co-CEO of Ivy Realty together with Anthony DiTommaso. “Like the tenants that we serve with our Class-A office buildings, we remain committed to Long Island as well as the tri-state area.”
Ivy Realty owns two office buildings in Suffolk County, collectively totaling 412,400 square feet. The firm purchased 2929 Expressway in 2005 when it was only 45% leased and has since added upgrades to the 152,000-square foot office building.
Ray Ruiz, executive vice president, and Lisa Keill, managing director, at Jones Lang LaSalle Inc. represented Microsoft in the lease transaction. Marion Geddes, executive vice president of leasing at Ivy Realty, represented building ownership in the Microsoft renewal. Robert Seidenberg of CBRE and Ivy’s vice president of leasing Glenn DiGiacomo worked on the Bohler transaction.