News: Long Island

Jones Lang LaSalle expands at T. Weiss Realty's Melville Corporate Center III

Jones Lang LaSalle (JLL) has leased 5,443 s/f for a new, larger space in one of Long Island's newest class-A buildings, T. Weiss Realty Corp's. Melville Corporate Center III. In 11 months, JLL's office on Long Island doubled in size and will relocate in April to 324 S. Service Rd., from 68 S. Service Rd. "We are very pleased to make Melville Corporate Center III the new home for Jones Lang LaSalle's Long Island Office as it is a premier building, ideally located in Melville at the center of all our client demographics on Long Island." said Ray Ruiz, executive vice president of Jones Lang LaSalle. "Leasing space in a building of this caliber further exemplifies Jones Lang LaSalle's commitment to leverage its service platform in this suburban market." Ruiz, who launched the firm's Long Island office in February 2010, said Jones Lang LaSalle required more quality office space in a central location. "We are looking to grow and be recognized as one of the leading real estate service firms on Long Island." Ray Ruiz, executive vice president of Jones Lang LaSalle along with Marianne Dugan, vice president, represented JLL in lease negotiations. Craig Weiss, managing director of T. Weiss, represented the landlord in- house. "We are privileged to have Jones Lang LaSalle as a tenant in our new building," said Ted Weiss, president of T. Weiss Realty Corp. "JLL's decision to relocate its Long Island offices to our building reflects well on the quality of our product, its many amenities and terrific location and speaks volumes about our reputation as a highly regarded landlord and building manager." The 133,050 s/f Melville Corporate Center III is the newest addition to the 600,000+ s/f T. Weiss portfolio. The Melville Corporate Center III offers a full back up generator providing uninterruptible power for the entire building, landscaped meditation gardens, redundant utilities and telecommunications, an interactive lobby directory, pre-wired high-speed Internet access, a quality gourmet food court, an on-premises conference center, computerized proximity access system, full-service building maintenance and a state-of-the-art tenant-controlled HVAC system. About T. Weiss Realty Corp. Founded in 1969 by Ted Weiss and with day-to-day operations now overseen by both Ted and Craig Weiss, Melville-based T. Weiss Realty Corp. is a family owned and operated, full-service developer and manager of Class-A office buildings with properties totaling more than 600,000 square feet in the most important business districts of Nassau and Suffolk counties. T. Weiss Realty develops, owns and manages all of its properties and provides unsurpassed personalized service, meticulous attention to detail and swift response to customer requests. For more information, visit www.tweissrealty.com or call 631-454-9400
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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.