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Long Island Market Reports

Long Island Office Market

Average Asking Rent (Price/SF) $26.45
Vacancy Rate (%) 8.2%
Net Absorption (SF)   -82,168

The Long Island commercial office market remained healthy in the third quarter of 2019. Vacancy rates were slightly elevated from last quarter, with total unoccupied inventory at 8.2%, a 20-basis-point increase. Overall vacancy rates have steadily declined during the current economic cycle, falling from a five-year high of 11.3% in 2014.

Long Island Industrial Market

Average Asking Rent (Price/SF) $12.45
Vacancy Rate (%) 3.4%
Net Absorption (SF)   444,503

The Long Island Industrial market remains tight, as vacancy dropped in the third quarter of 2019 to 3.4%. This represents a 20-basis-point decrease from the previous quarter and marks the 12th consecutive quarter with an overall vacancy rate of less than 4.0%. Limited supply and tenants fleeing higher prices in Brooklyn and Queens have been the main factors contributing to this trend.



Long Island Office Market Report
3Q19
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Long Island Industrial Market Report
3Q19
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