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A Newmark Grubb Knight Frank (NGKF) team extended leading retail REIT Kimco Realty Corp.’s (NYSE: KIM) Long Island headquarters lease here by 10 years. Kimco, one of the country’s largest shopping-center owners, remains in its 71,000-square-foot space at 3333 New Hyde Park Rd.
NGKF Principal Brian Lee and Managing Director Scott Berfas, based in the Melville, N.Y. office, executed the transaction. Working with Joshua Weinkranz, Kimco’s vice president of the Northeast region, the team created and implemented a strategy over the past two years that will enable Kimco to lower its occupancy costs and provide flexibility within its workplace.
3333 New Hyde Park Rd. has been Kimco’s home for over 20 years. Stephen Hess provided in-house representation for the building owner, X-CELL REALTY ASSOCIATES, LLC.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 12,000 professionals, operating from more than 320 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.