News: Brokerage

Island Associates brokers four leases totaling 4,300 s/f

West Babylon NY Island Associates (IA) competed the following:

  • IA leased 1,300 s/f at the shopping center located at 369 Little East Neck Rd. to Go Spa. The tenant provides massage and spa services, and this is their third location. Go Spa opened for business to public in January.
  • IA negotiated a lease agreement for 900 s/f retail at 420 Wantagh Ave. in Bethpage to Appleberry, which provides repair services for all Apple products. Appleberry will be opening for business in this month.
  • IA negotiated a lease agreement with Cricket Wireless for 1,200 s/f at the BrentCity Shopping Center. Cricket Wireless is joining tenants at the 150,000 s/f shopping center which includes Gala Supermarket, Popeye’s Chicken, Checkers Hamburger, and Suffolk County Health Center. Cricket Wireless opened in January.
  • IA negotiated a new lease agreement with Lux Island Detailing for 900 s/f industrial at 333 Spur Dr. North in Bay Shore. Lux Island took occupancy of the only vacancy and will be providing on-site and off-site detailing services for automobiles.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking