Caiola and Caroleo of Zere Real Estate Services close sale of 53,502 s/f property

A J2 zoned 5.46 acre property located at 10 Robinson Ave. with an existing 53,502 s/f commercial building recently sold to a developer for an undisclosed price. The buyer plans to renovate the existing structure for business retail with a percentage of the project allocated to medical use and healthcare. The transaction was exclusively represented by Zere Real Estate Services, representing the buyer and the seller. Paul Caiola and Patrick Caroleo of Zere worked closely together. " Wise investors took advantage of a golden opportunity to create multiple use mixed tenancies and bring a maximum yield to the site where they will construct a new facility catering to the local business community of downtown eastern Patchogue to support the growing demographic that needs to be addressed for professional use commercial space," said Caroleo, managing director. "The strategic location of this site is the gateway to East Patchogue located a short distance from highly travelled transportation arteries,Rte. 101 and Sunrise Highway. Brookhaven Hospital is also close by with their ever expanding healthcare operations catering to mid Suffolk County and the south shore eastern region of Long Island with its huge demographics and population. Across the street from the existing site is a new national retail center, Lowes Mega Store that was recently constructed," said Caiola, senior managing director.