Peloton exercise bike maker signs lease on Syosset warehouse

Manhattan-based exercise bike maker Peloton signed a lease on a 13,800-square-foot Syosset warehouse with property owner Milvado Property Group. Peloton, which has “nearly 1 million” members who use the internet-connected home exercise system, plans to use the space as its first distribution center as soon as this summer. The warehouse space is just a part of Milvado’s 220,000-square-foot industrial and office building. CBRE’s Paul Leone represented Peloton while David Hercman represented the landlord. [Newsday]