Exercise bike maker Peloton signs lease for Syosset distribution center

Exercise bike maker Peloton has signed a lease to open a distribution facility in Syosset, according to the property owner, Milvado Property Group.

Peloton, a Manhattan-based fitness company that offers internet-connected stationary exercise bicycles and live-streamed workout classes, will be opening a 13,800-square-foot warehouse space at 99 Lafayette Ave. to serve Long Island customers, according to the announcement from Syosset-based Milvado. Peloton has “nearly 1 million” members who utilize its in-home, live-streamed exercise classes and products, the release said.

Peloton’s stationary bikes retail for $1,995 on its website. The company has retail showrooms in Roosevelt Field and Manhasset. 

This will be the company's first permanent distribution facility for Long Island, a spokeswoman said in an email. Operations at the site are expected to begin this summer, she said.

“Peloton’s dedicated and passionate community has seen an exponential increase of members based on Long Island,” Jamie Beck, vice president of national field services at Peloton, said in the statement. “This warehouse space will help us successfully support the increased delivery needs in this vicinity, further enabling us to meet the high quality and customer service standards of Peloton that our members expect.”

The warehouse space is part of Milvado’s 220,000-square-foot, multitenant industrial and office building. Milvado owns 3.6 million square feet of real estate on Long Island.

In recent weeks, Peloton has announced plans to launch in the United Kingdom and Canada later this year, as well as plans to open a member support headquarters in Plano, Texas, and a multistudio fitness and broadcast production hub, Peloton Studios, on Manhattan's West Side in 2019. 

“We are delighted that forward-thinking and dynamic companies like Peloton, who need space on Long Island, are finding a ... partner in Milvado,” JoAnn Stock, director of leasing at Milvado Property Group, said in a statement.

Paul Leone of brokerage CBRE represented Peloton and David Hercman of Milvado represented the landlord.