News: Long Island

Hunt Corporate Services brokers three sales totaling $5.51 million

David Hunt, <a class=Hunt Corporate Services, Inc." width="150" height="150" /> David Hunt, Hunt Corporate Services, Inc.
Lindenhurst, NY Hunt Corporate Services, Inc. has completed three sales totaling $5.51 million. The deals include the following: • KB Equities has purchased the 3,500 s/f commercial building located at 533 West Hoffman Ave. in Lindenhurst for $510,000. Andy Dorman, senior director of Hunt represented the seller, Mario’s Woodworking. The buyer was self-represented. The building at 533 West Hoffman Ave. is a corner commercial property located along a commercial corridor within minutes of Sunrise Hwy., Montauk Hwy. and the Southern State Pwy. The building features a 10-ft. clear ceiling height, 700 s/f of office space and
Andy Dorman, <a class=Hunt Corporate Services" width="150" height="150" /> Andy Dorman, Hunt Corporate Services
one drive-in door. “This lovely little building was only on the market for a couple of weeks before someone made an offer that was nearly full price,” said Dorman. “Small, well-maintained commercial buildings are in demand now.” • IDJNOW has purchased the 20,000 s/f industrial building located at 100 Christopher St. in Ronkonkoma for $1.8 million. David Hunt, president of Hunt represented the seller, Nationwide Displays. The buyer was represented by Alberto Fiorini and Frank Posillico, Sr. of Alliance Real Estate Corp. The building at 100 Christopher St. is a free-standing industrial building situated on a 1.2-acre plot, and is located a short distance from Veterans Memorial Hwy. and the Long Island Expressway. The building features 18 ft. clear ceiling height, 3,300 s/f of modern office space with showroom, two loading docks with elevators, and one drive-in door. “The building had a lot of sought-after features, and we had a lot of activity while we were marketing the building,” said Hunt. “The location, the high ceiling height, and the modern office space proved to be very popular. We came to terms with IDJNOW in less than a week after their first inspection.” • Nationwide Displays has purchased the 40,000 s/f industrial building at 110 Windsor Place in Central Islip for $3.2 million.  Hunt exclusively represented the buyer. The seller was represented by John Simone and Carmine Inserra of NAI Long Island. Nationwide Displays is doubling the size of their facility with this move, having recently sold their 20,000 s/f building. Hunt also exclusively represented them in the sale of their former building. “It was a challenging process,” said Hunt. “We had to work out the process that allowed Nationwide to sell their existing facility first, lease it back for a short period, and then close on the acquisition at 110 Windsor Place. A key feature of the new building is a ceiling height of 20 ft., which facilitates the storage of custom displays for Nationwide’s clients.”
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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.