Transactions Represent Continued Demand for Flexible Workspaces on Long Island
The CBRE team of Vincent LaManna, Richard Freel and Peter Danna represented Regus, the world’s largest provider of flexible workspace solutions, in three transactions comprising two lease renewals and an expansion. Regus renewed its leases at RXR Realty-owned RXR Plaza in Uniondale, N.Y.and 68 South Service Road in Melville, N.Y. totaling 31,500 square feet and 35,500 square feet, respectively. The firm also committed to a full floor at 200 Broadhollow Road in Melville, expanding from its previous 16,500sq. ft. to 20,200 sq. ft.
“Regus is the leading office suite operator in the market, offering strategically located office suite options all over Long Island,” said CBRE’s Senior Vice President Vince LaManna. “These transactions allow the firm to maintain its leadership position in the office suitesegment and incorporates an enterprise element for corporate clients who want flexible short-term occupancy agreements without heavy upfront construction costs.The RXR properties, RXR Plaza and 68 South Service Road,represent two of the most prestigious office addresses in Nassau and Suffolk counties, while 200 Broadhollow Road presents the perfect location for Regus to kick off its enterprise business.”
Each building is highly visible and proximate to major roadways as well as railroad hubs in Long Island’s most vibrant business corridors. 200 Broadhollow Road is situated in the heart of the Route 110 corridor while 68 South Service Rd. is located on the Long Island Expressway. RXR Plaza offers convenient entry to the Meadowbrook State Parkway. The locations are centrally located with immediate access to a wide variety of retail, dining and hotel amenities.
“As workers continue to migrate to suburban markets and away from larger metros, the presence of Regus will continue to grow in these areas as well,” said Michael Berretta, VP of Network Development at IWG, owner of Regus. “With over 100 locations in the tri-state area, suburban growth is something that will continue to be a priority for the entire IWG network.”
The Regus network on Long Island includes ten locations and, through a range of office formats, enables people and businesses to work where they want, when they want, how they want, and at a range of price points.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com
About Regus
First established in 1989, Regus is one of the original pioneers of flexible workspace, helping businesses choose a way of working that’s best for their people.
Now spanning the world with over 3,000 locations, Regus’ global network of bright, inspiring workspaces allow modern businesses to work where, when and how they want, in a more agile way. Regus provides businesses with the flexibility to grow without risk or commitment, and attracts a diverse network of 2.5 million people, from entrepreneurs and SMEs to multi-national blue-chip companies.
Regus is an operating brand of IWG plc: the holding group for a number of leading workspace providers. Other brands in the IWG portfolio include Spaces, HQ, No18 and Signature by Regus. www.regus.com
