The Real Deal New York

Nassau, Suffolk commercial property markets at a crossroads

Office, retail and industrial space are in high demand across Long Island, but stagnant population growth imperils future developments and property sales

The New Nassau Coliseum

From the Long Island Market Report: It’s a mixed bag when it comes to Long Island’s commercial real estate market. On the one hand, there’s notable action with Class A office properties, including the 233,000-square-foot $112-million headquarters of software company Dealertrack, due for completion this summer.

And then there’s the $260-million redevelopment of Nassau Coliseum in Uniondale and the upcoming $4-billion, 452-acre mixed-use Heartland Town Square project in Islip, which will house more than 9,000 rental apartments and condominiums, 1 million square feet of retail, 3 million square feet of office and one or more hotels. [more]