Hanover Community Bank will be opening a new office in Hauppauge.
Hanover leased 6,850 square feet on the third floor of the newly built office property at 410 Motor Parkway.
The bank, owned by publicly traded Hanover Bancorp, will use the new space as an office and bank branch, and expects to open the new location by the end of the year. This will be the bank’s third Long Island office, following Mineola and Garden City Park. It has other locations in Manhattan, Forest Hills, Flushing, Sunset Park, and Freehold, N.J.
“This move east will support the vibrant businesses and residents of the Suffolk County area and has long been a part of our strategic expansion plans,” Michael Puorro, Hanover’s chairman and CEO, said in a company statement. “Logistically, this location allows us to further service the Long Island business community with commercial, municipal, and retail banking products. This area is particularly void of institutional banking choices due to the ongoing, robust consolidation activity within our industry.”
The new 35,000-square-foot building at 410 Motor Parkway was a $15 million speculative project for its developer Aresco Management. Completed late last year, the four-story building on 3 acres at the entrance to the Long Island Innovation Park at Hauppauge replaced an old one-story industrial building and is the first spec office building to be constructed on Long Island in the last dozen years.
The Hauppauge office building, designed by John Seifert of Huntington-based WSJS Architects, reserved its first floor for food business. So far, Mógū Modern Chinese Kitchen, which has other locations in Farmingdale and Commack, has leased about 2,000 square feet and Jersey Mike’s Subs has leased about 1,700 square feet at the Motor Parkway property. Both eateries are expected to open before the end of the year.
Ron Epstein of RC Commercial Partners represented Hanover Bank and Russel Helbling, formerly with Sabre Real Estate Group and now with Katz & Associates, represented Mógū, while landlord Aresco Management was self-represented in the lease transactions.