A distributor of high-fashion eyeglasses is planning to relocate from Queens to Long Island after purchasing a warehouse in Farmingdale for $2.73 million.
Creative Eye Glass Group LLC of Ridgewood will be moving into a 21,500-square-foot warehouse located at 200 Allen Blvd. within the next four months, said Michael Freedberg, who brokered the deal for both the buyer and the seller, Connetquot West Healthcare Medical Supplies.
Executives at Creative Eye Glass Group could not be reached for comment.
“Queens is getting so expensive,” said Freedberg, president of Suffolk Industrial Properties LLC. “Whatever’s there for industrial is either being knocked down and turned into residential or the landlords are raising the rents.”
Creative Eye Glass Group, which previously rented space, “got put into the market” after it could not get a lease renewal, he said.
Local brokers have said in recent years that soaring prices in neighboring Brooklyn and Queens, brought on by the redevelopment of traditionally industrial areas into high-priced condos and apartments, have pushed many businesses out of the city and onto the Island.
Many city landlords have sold older industrial properties for as much as $300 to $400 per square foot before the properties are converted to high-end luxury residential offerings. By comparison, Island industrial space — which has experienced its own spike in demand — sells for around $100 a square foot or less.
Connetquot West Healthcare is currently operating at the property but will relocate to another property on Long Island, Freedberg said. The company took the property off the market for a time as it searched for rental space where it could move, he said.
The property sale closed last month.