News: Long Island

CLK Commercial Management brings 534 Broadhollow to 100% occupancy

CLK Commercial Management recently completed three deals at 534 Broadhollow Rd., bringing the four-story class A commercial property to full occupancy. "This is an important milestone for CLK and for the 110 business corridor," said David Glaser, director of commercial management for CLK Commercial Management. "Despite the relatively soft western Suffolk office market, we're seeing an increase in leasing activity at our Melville properties. Demand is picking up in the area and that's reflected at 534 Broadhollow Rd., which is 100% occupied, as well as other CLK-owned properties in the area, including 999 Walt Whitman Rd., which is 100% occupied, 275 Broadhollow Rd., which is 100% occupied, and 300 Broadhollow Rd., which is 93% occupied." The three lease signings at 534 Broadhollow Rd. include FST Engineers, ELMY'S Special Services, and Sundack Accounting. Acting as broker for FST Engineers was Ralph Benzakein of Cresa Partners. Paul Leone of CBRE brokered the deal for ELMY's Special Services. Glaser cited a host of factors that make 534 Broadhollow Rd. attractive to tenants, including the building's proximity to major highways, restaurants and shopping; its high-speed telecommunications; and benefits for workers, including a bank branch with an ATM machine, an on-premises café, and 24/7 access. The building is easily recognizable for its fountains and sculptures that front onto Route 110. CLK Commercial Management is the commercial property platform of CLK Properties, a privately held, diversified national real estate organization possessing more than 2.5 million s/f of class A commercial space throughout Long Island, New York. With a primary focus on well-located areas in Nassau and Suffolk Counties, CLK offers a portfolio of high caliber office properties catering to a diverse tenant base. Under the leadership of Craig Koenigsberg, its founder and principal, CLK Commercial Properties owns these properties and CLK Commercial Management manages them. More information is available by visiting www.clkcm.com. # # #
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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.