"A new project in Nesconset from Ronkonkoma-based O’Shea Properties is aimed at smaller users. The company is building three 19,758-square-foot buildings on 4 acres of land. Each of the 27 industrial units will range between 1,900 and 2,700 square feet and offer a majority of warehouse space with a small portion of each set aside for an office component.
“There’s clearly a pent-up demand for small and mid-sized users. We have a 50-company waiting list of our current tenants looking for more space,” said Katie O’Shea Rivas, a principal of the company that has a portfolio of 1 million square feet, 80 percent of which is industrial. “We could have put up a larger building for a big user, but we opted to create a product that would cater to startups and small to medium industrial users. The backbone of Suffolk County’s economy is small businesses, so these 2,000-square-foot or so spaces are critical to support them.”
Meanwhile, brokers are counseling clients to move quickly if an opportunity does come their way, as available properties are so scarce.
“If you’re a buyer or tenant looking for space for sale or lease and you’re lucky enough to find it, do yourself a favor and jump on it,” Miller says."
Source: Long Island Business News
By: David Winzelberg
Photo: Judy Walker Photography