News: Long Island

Alliance Real Estate Corp. brokers two sales totaling $3.265 million and four leases totaling 15,700 s/f

Alliance Real Estate Corp. has completed two sales totaling $3.265 million and four leases totaling 15,700 s/f. The deals include the following: * ULC Robotics purchased 88 Arkay Dr., Hauppauge, a 20,000 s/f industrial building from 88 Arkay Drive Corp. for $2.485 million. ULC Robotics is retrofitting the building for their use and are moving from their current location. Alberto Fiorini of Alliance represented ULC Robotics and Jason Maietta of Colliers represented the seller. * Wesco Manufacturing purchased 10 E. 5th St., Deer Park, a 7,000 s/f office/R&D building from VTS, Inc. for $780,000. Wesco will be using the location as its corporate headquarters. Jeremy Hackett from Metro Realty Services represented the buyer and Alliance's Fiorini and Frank Posillico represented the seller. * JSK Trading, Inc. has leased 6,500 s/f at 101-32 Dupont St., Plainview. Gary Chimeri, an associate at Alliance represented the tenant. Cougar Management is the landlord. * Interstate Brokerage Corp. has renewed a six-year, 5,000 s/f lease at 35 Arkay Dr., Suite 400, Hauppauge. James Bilski, managing director at Alliance represented the tenant and the landlord, Shalam Management, LLC was represented in-house. * East Coast Innovations has leased 1,800 s/f at 60(I) Corbin Ave., Deer Park. Ryan Wall, associate at Alliance represented the tenant. Dorf Associates is the landlord. * Anthem Contracting has leased 2,400 s/f at 1170(2) Lincoln Ave., Holbrook. Wall represented the tenant. O'Shea Properties is the landlord.
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Columns and Thought Leadership
The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.