Delisle of Island Associates represents CVS in new lease

August 12, 2013 - Long Island

Roger Delisle, Island Associates

Aerial of CVS on Pine St. and Route 112 - Coram, NY

Island Associates representing both the landlord and tenant (CVS Drug Stores) in the final executed lease and eventual building permits and soon to be opening of a new CVS store. Roger Delisle Jr. representing CVS in this transaction entailing 6 years to final completion. CVS signed this lease in 2007 and shortly commenced their due diligence in entitling this site which involved multiple meetings with the civic groups, town officials, DOT issues and multiple state agencies with the town of Brookhaven. The site located at the north/west corner of Pine St. and Rte. 112, consisted of a larger 12 acre site zoned residential in the rear. The site required zone change and multiple variances for use with a drive thru, the dilatory process involved over 15 months of multiple versions for the plan revisions before being presented to the town. Aggregate rental on this site is over $6.5 million, located at a light just south of Rte. 347 north of Rte. 25. Planned opening is set for October 2013.
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