The following excerpt is from an article by Sarina Trangle that was published in the Friday, January 20th, 2023 edition of Newsday on page A33. You can read the entire piece here.
Demand for Offices
…He and his partners may be waiting a while, real estate experts said. Large insular campuses, where every detail is designed for one corporation, aren’t as popular; and offices of all types have emptied out as many white-collar employees work from home, according to Richard Murdocco, an adjunct professor of public policy at Stony Brook University. There are few firms looking for what village planning documents describe as a 778,000-square-foot office, said Clancy, the Trepp executive…
Outlook for Offices
…But parts of Suffolk County may have a glut of warehouses if all of the industrial projects proposed are built, Murdocco said. He described putting up warehouses as “the path of least resistance” in a region where building badly needing housing can be controversial.
“What the Village of Islandia decides resonates beyond its boundaries, resonates beyond the Town of Islip and regionwide — especially at a site that was this significant,” Murdocco said. “It was an economic focal point for Suffolk County, and this is the best we can do?”
You can read the rest of the piece from Trangle here.
