News: Long Island

Cohen of Ashlind Properties handles two industrial building deals

Richard Cohen, president of Ashlind Properties, has arranged two transactions involving industrial buildings opposite each other on Daniel St. At 40 Daniel St., Cohen arranged a long-term lease for 112,000 s/f for Pole Position Raceway, an indoor go-kart racing track. Cohen has long represented the building's owner CMB Wireless. Cohen also arranged the sale for $11.5 million of 215 Daniel St. by J. Breed Realty LLC. The 129,635 s/f industrial building on 6.7 acres, formerly housed Jeanne Pierre, an apparel manufacturer. The buyer, Calvert Family Holdings LLC, is an automobile finance company based Bedford, Tex., that provides auto leasing services for credit unions. Its affiliates include Fusion Auto Finance LLC, EndTrust Lease End Services, LLC and Novak Motors, which operates a lease-return center on Pacific St. in Hauppauge. Daniel St., which intersects Rte.110, a major North-South thoroughfare on Long Island, is home to a BJ's Warehouse Club store, and LA Fitness.
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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
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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.