Listen to this articleCBRE has been appointed as the leasing agent for the 1.1 million-square-foot Lake Success Quadrangle.
The 11-building complex on 54 acres is one of Long Island’s largest office parks. Bordered by the Northern State Parkway, New Hyde Park Road and Marcus Avenue, Lake Success Quadrangle’s current tenant roster includes ProHealth, Northwell Health, NYU Langone, Catholic Health Services, New York Cancer & Blood Specialist and many others.
The CBRE team of Daniel Brandel and Robert Seidenberg will spearhead the leasing assignment on behalf of owners TPG Angelo Gordon and The We’re Group. They are marketing available spaces at the complex that range from 2,000 square feet to as much as 120,000 square feet. Asking rents at the Quadrangle are $36 a square foot for office and $42 a square foot for medical uses.
“The Lake Success Quadrangle boasts Class A medical and office options to meet a variety of space needs,” Brandel said in a statement from the brokerage firm. “The existing tenant base of premier medical office users activates the complex, and the location makes it extremely attractive to potential tenants seeking to tap the workforce near large population centers in Queens and Nassau County.”
Historically, the property’s leasing was handled directly with ownership, however, CBRE will now be working alongside The We’re Group in marketing and leasing. While its current occupancy rate stands at about 93 percent, the effort will concentrate on filling the available space.
“We look forward to working with the We’re team to bring a large-block medical tenant to this highly desirable property in a market with limited Class A availability,” Seidenberg said.
Developed by The We’re Group, the first buildings at the Lake Success Quadrangle were constructed in 1968 and the rest were completed within the next few years. The office park has since undergone many major renovations and upgrades.
