Cohen of Ashlind Properties arranges 542,000 s/f lease renewal

Richard Cohen, president of Ashlind Properties, has arranged a 15-year lease renewal for one of Long Island's largest buildings on behalf of a major logistics company. ELM Global Logistics renewed its lease for 542,000 s/f on 30.5 acres at 50 Emjay Blvd. The company, which considered relocating out of state - it has operations in N.J. - received an economic benefits package from the town of Islip Industrial Development Agency, enabling it to remain in the facility and keep 250 jobs on Long Island. "This lease renewal allows one of Long Island's largest industrial property users to remain and support the local economy," Cohen said. "It could not have happened without the help of the Islip IDA and the cooperation of the landlord," Brentwood Steel LLC, an affiliate of Bethpage-based Steel Equities, has owned the building since 2006 and was self-represented in the lease renewal by Joseph Lostrito.