Garden City, NY (PRWEB) July 28, 2008
The Enterprise Mobility business of Motorola Inc., taking advantage of a host of economic incentives and employee-friendly building amenities offered at Metropolitan Realty Associates' Sunrise Business Center in Great River, Long Island, has leased space in the complex. The lease brings occupancy at the 100 Building and 200 Building of the complex to 92 percent.
The Motorola unit signed a lease for 24,138 square feet at 3500 Sunrise Hwy. The company intends to use the space in the Sunrise Business Center's 200 Building, 8 miles from its Long Island headquarters, for product development. The company is expected to occupy its space during the fourth quarter of 2008.
"This is a national company that has recognized the economic advantages and amenities that we can provide at the Sunrise Business Center," said Joseph A. Farkas, president of Garden City-based Metropolitan. "These benefits make our property distinctive in a highly competitive market."
Tenants in the 388,000-square-foot, three-building office complex benefit from a Town of Islip PILOT program. The program freezes property taxes at $1.62 per square foot until 2012 and then allows for annual increases of 3 percent for 10 years, keeping taxes below $2.20 per square foot. As a result, tenants in the building know their exact tax obligations through 2022. Tenants also benefit from inclusion in a New York State Economic Development Zone, which provides tax credits, sales tax exemptions, wage tax credits and energy discounts.
Along with its economic competitiveness, the Sunrise Business Center provides tenants with such amenities as WiFi throughout the building, a beautiful full-service cafe and a conference center that can accommodate up to 300 people. The building also offers concierge and security services, onsite management, 24/7 access, access to various telecommunications and Internet service providers and abundant parking.
Joshua Glieber, a vice president in the New York office of Jones Lang LaSalle and Meghan Ward, a transaction manager in Jones Lang's Chicago office, represented Motorola in lease negotiations. Ray Ruiz and Maryanne Dugan, respectively senior vice president and associate, in the Woodbury, L.I., office of CB Richard Ellis, leasing agents for the complex represented ownership.
"Motorola's decision to lease at the Sunrise Business Center, along with other recent leases, demonstrate the building's appeal to both national and local companies," said Ruiz.
Since acquiring the complex, formerly the Long Island Business and Technology Center, in 2006, Metropolitan has signed new leases and expansions at Sunrise Business Center totaling more than 130,000 square feet, more than two-thirds of that in 2008. Occupancy was 50 percent at the time of the purchase. Besides Motorola, other prestigious tenants at the property include Aetna Life Insurance Co. Citizen's Banks, AC Atel, Hearst Business Media, Lessings Inc., Metro Door, Netsmart Technologies, T-Mobile, Schoenfeld Securities and Verizon.
Encouraged by the rapid lease up, Metropolitan recently broke ground for a 161,000-square-foot, Class-A office building that will replace a now unused former warehouse building in the complex. Metropolitan also completed a multimillion-dollar interior renovation of the property, including public areas, the River Cafe dining area and internal systems.
About Motorola Inc.
Motorola is known around the world for innovation in communications. The company develops technologies, products and services that make mobile experiences possible. The portfolio includes communications infrastructure, enterprise mobility solutions, digital set-tops, cable modems, mobile devices and Bluetooth accessories. Motorola is committed to delivering next generation communication solutions to people, businesses and governments. A Fortune 100 company with global presence and impact, Motorola had sales of $36.6 billion in 2007. For more information about the company, visit http://www.motorola.com
Motorola Enterprise Mobility Solutions, which has primary offices are in Schaumburg, Ill., and Holtsville, N.Y., designs, manufactures, sells, installs and services analog and digital two-way radio, voice and data communications products and systems for private networks, wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets, including government and public safety agencies, as well as retail, utility, transportation, manufacturing, healthcare and other commercial customers.
About Metropolitan Realty Associates
Established in 2001, Garden City, NY-based Metropolitan Realty Associates LLC is a national real estate investment and development firm, owning more than 700,000 square feet of office space on Long Island. Metropolitan Realty Associates owns the Business and Research Center at Garden City, in Garden City, NY, the Sunrise Business Center in Great River, NY, and the Jericho Atrium in Jericho, NY. It also owns The Southwest Corporate Center in Houston, TX and has important investments in development projects and other properties across the country. For more information about Metropolitan Realty Associates visit http://www.metropolitanra.com