The U.S. Department of Defense has committed to a decade-long office presence on Long Island, according to Lee & Associates NYC, which brokered the landlord side of the transaction. DBD Realty Group signed the agency to 23,600 square feet at 1 Old Country Road in Carle Place, a hamlet in Nassau County. The department is expected to take occupancy in the five-story building early next year. The tenant was represented by brokers from CBRE. The property totals 320,000 square feet and recently completed a $22 million renovation that included building-wide upgrades prior to the lease being finalized.
ParkPoint Perspective
A long-term federal lease commitment in suburban Nassau County is a signal that stable, credit-backed tenancy continues to anchor value in select Long Island office assets — particularly those that have absorbed the capital expenditure burden upfront through renovation. For investors, this suggests that well-positioned, post-renovation suburban office product in supply-constrained corridors can still attract institutional-grade occupiers, reducing lease-up risk in a market segment where demand has otherwise remained uneven.
Source: The Real Deal