News: Long Island

C&W leases 25,580 s/f to St. Mary's Healthcare System for Children

According to Cushman & Wakefield, St. Mary's Healthcare System for Children signed a 15-year lease for 25,580 s/f of space at 5 Dakota Dr. The deal is a renewal and expansion. The space will continue to house St. Mary's executive and administrative offices. The organization consolidated its operations from another nearby Nassau County location in order to bring everything under one roof. St. Mary's Healthcare System for Children was represented by Cushman & Wakefield's David Leviton, executive director, Robert Kuppersmith, director, and Marisa Karmitz, associate. Property owner We're Associates Company was represented internally by Andy Newman. "St. Mary's remained at 5 Dakota Drive because of its central location to its flagship hospital in Bayside and its employees," said Kuppersmith. "We considered relocation alternatives within Nassau County, but after a thorough evaluation of the availabilities in the region, we concluded that expanding on premises and constructing new improvements in the Lake Success location was the right decision for the organization. The landlord worked collaboratively with us to accommodate the tenant's needs, and St. Mary's is very pleased to extend its commitment and grow in the building."
MORE FROM Long Island

Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
READ ON THE GO
DIGITAL EDITIONS
Subscribe
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.