News: Long Island

Hunt leases 15,000 s/f to GenServe in Plainview

According to Hunt Corporate Service, Inc., GenServe, Inc. has acquired 15,000 s/f at 100 Newtown Rd. in a long-term lease. Hunt represented the landlord CW Plainview, LLC in the lease negotiations. Kevin Owens of NAI Long Island represented GenServe. "GenServe was looking for a facility near both the Long Island Expressway and the Nassau Suffolk border. It is an ideal location for their fleet of service vehicles, and the building is a perfect fit. The recent building renovation and new exterior sealed the deal," said David Hunt, president of Hunt. Hunt negotiated the transaction on behalf of the landlord. The building at 100 Newtown, owned by CW-Plainview LLC, was recently updated with a new facade, curbs and paving. The outdated and old interior of the building was completely demolished. Plans are being drawn to build out the interior with office and warehouse space according to the specification of the new tenant. Work is to be completed by July when GenServe will occupy the building. GenServe provides industrial generator sales and service throughout; New York, New Jersey, Connecticut, Pennsylvania Delaware and Maryland. GenServe, Inc. has expanded their operation and required a larger facility closer to the Nassau/Suffolk borderline with easy roadway access. GenServe is planning to use the space for their corporate headquarters, service operations and warehouse space.
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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.