The Real Deal New York

Industrial landlord Milvado rides the e-commerce leasing wave into 2019

February 11, 2019 01:13PM

Syosset-based Milvado Property Group leased or renewed 51,431-square-feet of industrial space in January, a strong start that the Syosset-based company attributed to an increased demand from e-commerce, continuing a trend it saw in 2018. Milvado, which adopted its current name a year ago this month, signed 30 lease deals during the last two quarters of 2018, according to the New York Real Estate Journal. “E-commerce is driving retailers’ insatiable appetite for super large warehouse space to accommodate products purchased online,” said a statement from David Hercman, a regional director and director of asset management at Milvado. So far this year, Milvado has negotiated deals for 171-175 East Second Street in Huntington Station; 101-125 Comac Street90 13th Avenue and 100 13th Avenue in Ronkonkoma; 6851 Jericho Turnpike and 575 Underhill Boulevard in Syosset; and 270 Duffy Avenue in Hicksville. New tenants include the California Fragrance Company, Forward Industries Inc. and ESR Capital Fund, among others. [NYREJ]