LONG ISLAND INDUSTRIAL, WAREHOUSE, AND MANUFACTURING PROPERTY MARKET TRENDS FOR JUL 2022

Presented by Schacker Realty 631-293-3700www.schackerrealty.com Average Listing Price/Sq. Ft. Sq. Ft. Jul 2018 Jul 2020 Jul 2022 4-yr Change 2-yr Change 4k-10k 205.22 217.10 287.35 40.0% 32.4% 10k-30k 166.19 175.80 232.02 39.6% 32.0% 30k-70k 132.24 139.76 175.76 32.9% 25.8% 70k-999k 106.60 140.50 220.24 106.6% 56.8% Average Listing Rent/Sq. Ft. (Including RE Taxes) Sq. Ft. Jul…

THIS WEEK IN LONG ISLAND BUSINESS NEWS: SCHACKER REAL ESTATE TRANSACTION

Hauppauge industrial property trades for $8.65Mhttps://libn.com/2022/06/10/hauppauge-industrial-property-trades-for-8-65m/ An industrial property in Hauppauge has sold for $8.65 million.  May Properties purchased the 36,000-square-foot building on 2.4 acres at 80 Suffolk Court.  Built in 2000, the building has two loading docks and 7,800 square feet of office space.  Phil Shwom of Schacker Realty represented the buyer, while Richard…

THIS WEEK IN LONG ISLAND BUSINESS NEWS: SCHACKER REAL ESTATE TRANSACTIONS

Bubble Tea Firm Expanding with $6.25M Hauppauge Acquisitionhttps://libn.com/2022/05/20/bubble-tea-firm-expanding-with-6-25m-hauppauge-acquisition/ Gong Cha Tea, an international bubble tea franchiser with more than 1,300 locations worldwide, has purchased an industrial property in Hauppauge for $6.25 million.  Courtesy of Gong Cha Tea The company acquired the 31,000-square-foot building on 1.77 acres at 25 Power Drive where it will expand and…

THIS WEEK IN LONG ISLAND BUSINESS NEWS: SCHACKER REAL ESTATE TRANSACTIONS

Solar Company Expanding in West Babylonhttps://libn.com/2022/05/16/solar-company-expanding-in-west-babylon/?ep=1 An Inwood-based solar panel supplier and installer is expanding after purchasing an industrial property in West Babylon.  Sunpower By Kamtech Solar purchased a purchased a 7,400-square-foot industrial building on .31 acres at 480 Rutgers Road in West Babylon for $1.555 million.  The company, which serves both commercial and residential sectors,…

THIS WEEK IN LONG ISLAND BUSINESS NEWS: SCHACKER REAL ESTATE TRANSACTIONS

925 Waverly Ave., Holtsville U.S. Carpet Installation, a contractor for Home Depot, leased 14,985 square feet of industrial space at 925 Waverly Ave. in Holtsville. Desmond Mullins of Industry One Realty represented the tenant, while Ralph Perna of Schacker Realty represented landlord 925 Waverly Ave. Associates LLC in the lease transaction.https://libn.com/2022/04/21/inked-recent-li-real-estate-deals-213/

THIS WEEK IN LONG ISLAND BUSINESS NEWS: SCHACKER REAL ESTATE TRANSACTIONS

1340-14 Lincoln Ave., Holbrook Empire Pools leased 3,060 square feet of industrial space at 1340-14 Lincoln Ave. in Holbrook. Nicole Alper of Schacker Realty represented the tenant, while Lorraine O’Hara of CAMCO Commercial Real Estate represented landlord Holbrook Corporate Center LLC in the lease transaction.https://libn.com/2022/03/31/inked-recent-li-real-estate-deals-211/?ep=1

THIS WEEK IN LONG ISLAND BUSINESS NEWS: SCHACKER REAL ESTATE TRANSACTIONS

202 Terminal Drive, Plainview Bird Bus Sales, a dealer and distributor of school and commercial buses, purchased a 6,900-square-foot flex building on .57 acres at 202 Terminal Drive in Plainview for $1.95 million. The company plans to use the building for corporate offices and training. Ralph Perna of Schacker Realty represented the buyer, while Kyle Burkhardt and Patrick…

All Cash Offers King In Bidding Wars

As reported in The Real Deal by Holden Walter-Warner, according to Redfin, homebuyers with money on hand are four times more likely to win. https://therealdeal.com/2022/03/15/all-cash-offers-king-in-bidding-wars/ The best way to win a bidding war in today’s market? Have cash on hand — and plenty of it. Homebuyers were four times as likely last year to win…