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Overall Vacancy Rate in the Nassau-Suffolk Marketplace

The third-quarter CoStar report shows an overall vacancy rate of 5.9% in the Nassau-Suffolk marketplace. This compares very favorably with an average national rate of approximately 10%. Not surprisingly, with its huge pool of industrial buildings, the swings on Long Island are moderated as well. What’s not articulated in the report is the difference between Nassau and Suffolk County. The Nassau market is tight in many size ranges, whereas bargains abound in the Suffolk market. Note to those looking for industrial space: You can achieve at least $2.00 a square foot in real estate tax savings by merely crossing the county line in Suffolk. For a 20,000 square foot user, that is a $40,000 a year savings!