Schein signs big L.I. lease

Real Estate Weekly, March 2, 1994

Henry Schein, Inc., Long Island's largest distributor of health care supplies and the third-largest privately held company on Long Island, has signed a lease for 105,000 square feet at 135 Duryea Road in Melville. Ted Stratigos, a director of Cushman & Wakefield of Long Island, Inc. negotiated the long-term lease with the assistance of Mark Mandell from Cushman & Wakefield of New Jersey, Inc. and Kenneth Bauer, also of the Long Island office.

According to Stratigos, "The three-story office building at 135 Duryea Road is a premier site that offers Henry Schein, Inc. a good location in a building that meets the company's space requirements and business needs." Formerly home to Citibank, the entire building is being leased to Henry Schein, Inc., which will move approximately 500 of its employees from the company's present Port Washington and Woodbury locations.

"The selection of 135 Duryea Road represents the culmination of a two-year search," explained Stratigos. "Henry Schein was looking at locations throughout the tri-state area. We're Associates, the building's landlord, was able to satisfy Henry Schein's requirements for an attractive financial package that did not sacrifice function, quality or employee concerns." The final lease structure also provided financial and tax incentives, which included New York State and local incentives, IDA tax benefits, and LILCO incentives.