News: Long Island

Cohen of Ashlind Properties renews two industrial building leases totaling 144,477 s/f in Ronkonkoma

Richard Cohen, president of Ashlind Properties, has arranged lease renewals totaling 144,477 s/f at two high-ceilinged industrial buildings owned by Quality King Distributors Inc. The renewals by Ronkonkoma-based vitamin producer NBTY Inc., included: * 70,000 s/f at 2060 Ninth Ave. The 90,467 s/f building has ceilings of 30 ft. * 74,477 s/f at 2145 Ninth Ave., a building with 50-ft. ceilings. Cohen represented Quality King in both deals. James Dunne of Atlantic Property Services represented NBTY. "High-ceilinged warehouses, such as these, are extremely rare on L.I. and, therefore, are highly desirable," said Cohen, whose completed transactions this year already exceed 1 million s/f. Cohen noted that one building with high ceilings remains available for sale or lease in his listings: 100 Wireless Blvd., Hauppauge, a warehouse with 69,000 s/f and 40-ft. clear ceilings.
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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.