At Ivy Realty’s Office Property in Hauppauge, NY
Hauppauge, NY, July 21, 2006 – Microsoft Corporation recently leased 32,000 square feet of office space from Ivy Realty at 2929 Expressway North in Hauppauge, NY. Ivy Realty’s Executive Vice President of Leasing Marion Geddes handled the transaction, along with the building’s exclusive leasing agent, Frank Pagano of Corporate National Realty Inc. Microsoft was represented by Lisa Kiell and Brad Hyler of Jones Lang LaSalle.
Microsoft, which leased the third floor space for five years, will use the offices to house one of its research and development groups.
“Overlooking the Long Island Expressway, 2929 Expressway North is an excellent high visibility location for an established company such as Microsoft,” said Ms. Geddes. “With easy access to area highways and the MacArthur Airport, the property allows Microsoft to better serve its clients and employees.”
The 180,000-square-foot building, built in 1980, is located on the corner of Expressway Drive North with access from both the East and West via the Long Island Expressway. The building features a recently renovated lobby, cafeteria, common areas and corridors. Currently, the property has a total of 37,000 square feet of available space.
Other tenants in the building include Metropolitan Life Insurance, which occupies the entire second floor and a portion of the first floor.
About Ivy Realty
Founded in 1996, Ivy Realty, a wholly owned subsidiary of Ivy Equities, is a leading real estate investor and developer throughout New Jersey, New York and Connecticut. Ivy targets investment opportunities in undervalued, high grade, income producing commercial properties. The Company has built a reputation for successfully completing a wide spectrum of creative developments in the office, mixed-use, retail, build-to-suit and residential sectors. Currently, Ivy Realty owns, manages and leases a 3.5 million-square-foot portfolio with added development potential throughout the tri-state area.
For more information contact Ivy Realty at their Montvale, New Jersey headquarters at (201) 573-8400 or visit the website at www.ivy-realty.com.
