News: Long Island

Island Associates completes 2 transactions totaling 9,250 s/f

Island Associates has leased 1,250 s/f retail space to a nail spa named "Tip Top Nail Spa." The deal was brokered by Peter Kim of Island Associates. Nail Spa joins Palm Beach Tan located directly across the Bally's and CVS center. The property is located on 2890 Hempstead Tpke. Kim represented both the tenant and landlord in the transaction. In another transaction, Chris Nicholson of Island Associates, represented the landlord in a 7 year, 8,000 s/f lease. The tenant, Family Dollar,. will be beginning construction immediately, hoping to be open by December. The property is located at 1245 Middle Country Rd in Middle Island. The Shopping Center consists of nearly 140,000 s/f with little vacancy at this time. Family Dollar will be taking the former Revco location adjacent to King Kullen and Keith Osiks, MLI (Major League Instruction). Other co-tenants are Block Buster, Subway, Tutor Time, Aide Auto, H&R Block, to name a few. The property has been going under some considerable revitalization under the new ownership and whatever vacant space exists has been renting up quickly. The entire area in Middle Island has seen an upswing with the growth of area residences. Chris Nicholson represented the landlord and Cindy Gluck of Gluck and Associates Realtors represented Family Dollar.
MORE FROM Long Island

Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
READ ON THE GO
DIGITAL EDITIONS
Subscribe
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.