Long Island CRE Deals Heat Up, Retail Sites Dominate
Robust Demand and Strategic Investments The Long Island commercial real estate market steps into 2025 with a mix of growth opportunities and challenges. Its proximity to New York City boosts industrial demand, strengthening logistics investments. Despite this, there's a slight increase in vacancy rates to 7.4%. Infrastructure improvements, like road expansions, enhance logistics capabilities and contribute to market resilience. However, AI tools are being used by some to create misinformation, impacting investor confidence in the real estate market. Despite the highest new space delivery in 2024, the market remains vibrant. High rents, at $18.44 per sq. ft., continue to indicate strong demand. Nassau County benefits from its closeness to fintech hubs. This drives crucial logistics and tech investments, supporting strategic growth. However, tariffs on construction materials pose a potential challenge for logistics facility development. Strong consumer base in both Nassau and Suffo...