A national real estate services company is expanding with the lease of an industrial property in Hicksville.
Interstate Railway Holdings, LLC, an affiliate of HomeServices of America, leased 4 acres of industrial property at 449 West John St. The company, which is a subsidiary of Berkshire Hathaway, will be using the property for storing construction equipment and materials.
The tenant, which has other Long Island locations in Bay Shore and Valley Stream, plans to eventually develop a 50,000-square-foot Class A warehouse on the site, which also features a rail spur.
Kyle Burkhardt, Patrick Ciancimino and Josh Cohen, formerly of Cushman & Wakefield and now with Newmark, procured the tenant and represented the landlord, Criterion Group LLC, in the lease transaction.
“This deal worked well for both parties since the tenant was willing to sign a long-term lease and the landlord was willing to subdivide a parcel of land to accommodate rail access as well as providing the tenant the flexibility to construct a new facility in the future,” Burkhardt said. “The Long Island market has seen continued demand for industrial outdoor storage and rail access.”
The Newmark brokerage team is also marketing the landlord’s adjacent 2.5 acres for lease.
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