This article was published in Long Island Business News and written by David Winzelberg.
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Northwell Health has leased 30,000 square feet of medical office space that will anchor a new mixed-use building at Station Yards in Ronkonkoma.
The health system aims to create a multi-disciplinary practice facility on the ground floor of one of three new buildings planned as the next phase of the $1.3 billion project across from the Ronkonkoma Long Island Rail Road station.
Master developer Tritec Real Estate has begun demolition to ready the 6.72-acre development site bordered by Union Avenue and Carroll Avenue for what it calls Phase 2C at Station Yards, which will bring 285 apartments and the Northwell facility to three new five-story buildings. The investment for the new phase, designed by Marc Spector of Woodbury-based Spector Companies, is estimated at $175 million, according to Tritec.
“We are thrilled to welcome Northwell Health to Station Yards,” Jimmy Coughlan, Tritec president, told LIBN. “Their investment and belief in Ronkonkoma strengthens our vision of creating a true mixed-use destination by bringing new jobs, increased daytime activity, and essential healthcare services to the community. As more employees, patients, and visitors come to Station Yards each day, our retailers, restaurants, and local businesses will benefit from the steady energy and economic vitality that help great downtowns thrive.”
Northwell is the largest commercial tenant so far to lease space at Station Yards. Construction on the newest Station Yards buildings is expected to start this fall and take about 18 months to complete.
Last month, Tritec cut the ribbon on the second phase of The Core, which added another 175 apartments, 1,419 square feet of retail space and a second parking structure for residents to the Station Yards development. The first phase of The Core has 388 apartments, 70,000 square feet of retail space and 16,500 square feet of office space, which is now home to Tritec’s headquarters.
When completed, the Station Yards development will have 1,450 apartments, 195,000 square feet of retail space, and 360,000 square feet of office space.
David Pennetta and Stephen Cadorette of Cushman & Wakefield and Darren Leiderman of Colliers brokered the Northwell lease for landlord Tritec.