As employers increasingly seek office properties with modern updates and appealing amenities in the so-called flight-to-quality trend, a Long Island developer's move to overhaul a decades-old property as a modern-day "Class A+ professional office space" has paid dividends.
Damianos Realty Group, one of Long Island's largest commercial property developers and owners, last year completed a top-to-bottom renovation of a 210,000-square-foot commercial office building at 150 Motor Parkway in Hauppauge, New York, after buying it in December 2021. The property was built in 1984, CoStar data shows.
The redevelopment included, on the outside, a new parking lot spanning over 300,000 square feet; four new electric car charging stations; and revamped landscaping that Damianos said was aimed at improving the building's visibility from Motor Parkway and elevating its curb appeal.
The interior upgrades included revamped passenger elevators and commercial bathrooms. Damianos also installed a new lobby staircase; put in Bose speakers throughout all common areas and lobbies; and renovated a conference facility with a wet bar among new features. A full renovation of the building's gym is currently underway.
The overhaul has played "a pivotal role" in increasing the building's lease rate to be over 90% from 30% leased, Damianos said.
The redevelopment won a 2025 CoStar Impact Award as judged by real estate professionals familiar with the market.
About the project: 150 Motor Parkway is located at the gateway of the Long Island Innovation Park, formally known as the Hauppauge Industrial Park, and offers easy access to major transportation arteries in the area such as the Long Island Expressway, and the Long Island Rail Road, according to Damianos' website. The four-story building was designed by architect Mojo Stumer Associates. The property counts among tenants flexible workspace provider Regus, CoStar data shows.
What the judges said: "In the wake of a work-from-home corporate environment, this developer had the vision and courage to completely redesign and renovate this iconic Class A office building in one of our easternmost central business districts, a true testament to this forever-location office building," said Adam Rochlin, owner, founder and principal at The Rochlin Organization.
"This project deserves recognition due to the developer's commitment to improving [Long Island's] aging office inventory in a thoughtful way, attracting companies and employers, and in turn supporting local employment and economic activity," said Rebecca D'Eloia, executive vice president, RXR Realty.
They made it happen: Smithtown, New York-based Damianos Realty Group.
CoStar market manager Morgan Markowitz contributed to this article.