CBRE completes 25,000 s/f Sovereign bank deal in Melville.

The CB Richard Ellis Long Island office has arranged a 25,000 s/f lease for Sovereign Bank at Three Huntington Quadrangle (3HQ) in Melville, New York.

The financial institution has committed to a term of three years and will continue to maintain its auto finance and back offices in the 400,000 s/f office complex owned by Hines Real Estate Investment Trust, Inc.

CBRE's David Zelinski along with Phil Heilpern, Richard Karson and Martin Lomazow negotiated the lease renewal on behalf of Sovereign Bank.

"By exploring the Melville submarket and several relocation options, we were able to secure renewal terms that achieve significant occupancy savings for Sovereign Bank," said David Zelinski.

This transaction is one of many this team has secured in the Melville market during the past 18 months, closing leases for more than 360,000 s/f of office space.

In addition to Sovereign Bank, 3HQ boasts a number of other high-profile tenants, including Wellpoint Inc., World Alliance Financial and CIGNA. The two-building complex offers a 160-seat full-service cafe, abundant parking, and full-time on-site management.

The center core design of the building allows for a maximum amount of light, size and design flexibility.

Sovereign Bancorp, Inc., is the parent company of Sovereign Bank, a financial institution with principal markets in the Northeastern United States.

Sovereign Bank has 750 community banking offices, over 2,300 ATMs and approximately 12,000 team members.

Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, wealth management and insurance.

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