News: Long Island

Island Associates facilitated three leases totaling 4,400 s/f

Smithtown, NY Island Associates has handled the following transactions:

Island Associates negotiated a lease agreement with Dominos Pizza for 1,400 s/f at the BrentCity Shopping Center. Dominos is joining a large group of tenants at the 150,000 s/f shopping center which includes Gala Supermarket, Popeye’s Chicken, Checkers Hamburger, Suffolk County Health Center and over a dozen other tenants. Dominos opened to the public in May 2021. Both landlord and tenant were represented by Terence McMahon of Island Associates.

Island Associates leased 2,000 s/f of office space at 490 Wheeler Rd. in Hauppauge to Peter Romero, Esq. for his law practice. The long-term lease includes a full build-out and the tenant took occupancy June 1st, 2021. Tenant was represented by Coldwell Banker and landlord was represented by Island Associates.

Island Associates negotiated a lease agreement with Crown Chicken for 1,000 s/f at the Shopping Center located at 377 Oak St. in Copiague. Crown Chicken is joining this neighborhood center with tenants including a bakery, deli, insurance agency and hair salon. Both landlord and tenant were represented by Island Associates.

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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.