News: Long Island

GHP completes 2 leases totaling 14,172 s/f at Expressway Plaza

According to GHP Office Realty, LLC, an owner and manager of office properties throughout the New York metropolitan area, USA Today, a subsidiary of Gannett, a leading daily newspaper in the United States, has inked an 8,600 s/f lease at 3 Expressway Plaza. Chuck Tabone of Newmark Knight Frank's Long Island office represented USA Today. Nancy Cerami of NAI Long Island and Jamie Schwartz, executive vice president of GHP, represented the owner. In another transaction, Fifth Generation Systems (5G), a provider of innovative technology solutions to businesses, consumers and developers, signed a lease for 5,572 s/f at GHP's 1 Expressway Plaza. Gus Nuzzolese of Sutton & Edwards represented the tenant and Cerami and Schwartz represented the owner. Schwartz said, "We are delighted that USA Today chose 3 Expressway Plaza to be its Long Island headquarters and that 5G choose 1 Expressway Plaza for its headquarters. Expressway Plaza's close proximity to the Roslyn train station and the Long Island Expressway as well as its beautiful campus setting proved to be a perfect location for both of these companies." GHP's 150,000 s/f, four building, Expressway Plaza campus is now 100% leased. "The only space becoming available is a 1,700 rentable s/f unit on the second floor at 4 Expressway Plaza in January.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

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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.