Syosset, N.Y.-based insurance and financial services firm Bradley & Parker, Inc., has signed a 12-year lease for 16,000 square feet at 320 South Service Road for its new corporate headquarters office. Currently, the firm is at 200 Oak Drive and has a full-service office branch in Ronkonkoma. The move will take place in the first quarter of 2011.
Managing Director Scott W. Berfas and Director Michael Silver of Newmark represented the tenant, while Harry Stavro of Rechler Equity Partners acted on behalf of the landlord, 320 Expressway Associates.
“Following a thorough comparative financial analysis of multiple Long Island submarkets and by collaborating with leadership at Bradley & Parker, we ultimately concurred that 320 South Service Road was the perfect fit as the space will accommodate the firm’s rapid growth and provide them with an address along the LIE in Melville, which has become the center of the Long Island business community,” says Berfas.
Wayne Nowland, executive vice president of Bradley & Parker, states, “Relocating to the premier office-business district on Long Island, home of many significant companies, will allow us to combine our two current offices into one central, state-of-the-art facility. This will greatly improve our efficiency as well as our ability to serve the entire New York metro area. The new space provides us the necessary room for future expansion through both organic growth and strategic acquisitions.”
About Newmark
Newmark is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank operate from over 200 offices in established and emerging property markets on six continents. Last year, transactions were valued at more than $32 billion with annual revenues of over $811 million. With a combined staff of more than 6,300, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.