Treeline Makes Multi-Million Dollar Reinvestment in LI Portfolio
Signs New Leases and Renewals at Garden City Plaza and Franklin Avenue Plaza
September 20, 2023
Treeline, a value-add asset developer, owner and investor throughout the New York metropolitan region, has bucked market trends by making a multi-million-dollar reinvestment in its Long Island portfolio, maintaining a 90 percent+ occupancy level portfolio wide despite disruptions caused by the global pandemic.
Chief Operating Officer Howard Schor describes Treeline’s commitment to growth and improvement despite challenging market conditions. “We are investing in our assets while many other owners are not, and it has gone a long way in stimulating leasing even during difficult times,” he says. “Our portfolio has maintained occupancy significantly higher than the overall market throughout the height of the pandemic and the initial return to work phases in these unprecedented times, and it’s our dedication to both the needs of our tenants and our properties that have made the difference.”
Treeline recently completed lobby renovation projects totaling more than $1.2 million within the eight-building Garden City portfolio and is currently completing another million-plus in renovations throughout the properties, including common area refreshes, new elevators, safety systems, energy efficiency programs and other capital improvements to create a better tenant environment and experience.
“These properties have remained the jewels of Treeline’s long-term New York area assets, and they have enjoyed a history of high occupancy by a diverse tenant base of some of the area’s leading companies,” said Treeline Executive Vice President and Leasing Director Kraig Silver. “Traditionally, the buildings have been particularly attractive to law firms and related services, as well as medical offices due to their proximity to county courts, high visibility and easy access to transportation.” Treeline’s current capital improvement projects reflect an on-going mission to build and maintain tenant relationships to best fit their needs in challenging times.”