News: Long Island

Fagen of Sabre Real Estate arranges 30,473 s/f lease

Sabre Real Estate Group LLC has arranged a lease in East Islip on behalf of independent supermarket operator Pat's Meat Farms Inc. Pat's leased the 30,473 s/f former Waldbaum's supermarket in the Heckscher Plaza Shopping Center at 300 E. Main St. The new market, to be called Pat's Marketplace, is expected to open by the third quarter of this year. The 60,000 s/f strip center, on the south side of Montauk Hwy., just west of the Hechscher State Pwy., is owned by White Plains-based 300 Montauk LLC. Stu Fagen, managing director of Sabre, represented the landlord in a direct deal with the supermarket operator. Owned by Pat LoCurto, who also operates Pat's Marketplace in East Northport, the business started as a Queens butcher shop established in the 1950's by Sicilian immigrant Sebastiano LoCurto. Founded by Kenneth Breslin and Jayson Siano, experienced retail real estate professionals, Sabre Real Estate Group is a full-service retail real estate brokerage company focused on tenant and owner representation. Sabre also offers retail, restaurant and franchise consultation services, investment sales and property management.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

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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.