News: Long Island

K Corporation leases 11,000 s/f to Dollar Tree at new construction

After many years with many promises, but little change, the corner of Great Neck Rd. and Albany Ave. is about to become "The North Amityville Crossroads Shopping Center." Dollar Tree will be opening an 11,000 s/f store this fall in the former Rite Aid location. This is only the first item on the developer's list of changes. According to Jim Kaplan, principal of both Summit Real Estate Development, the project development company, and its affiliate, K Corporation, Kaplan has long experience working with projects like this. "The opening of Dollar Tree will be a very positive step for the community," Kaplan said. "We will be working with the community and the Community Vision Plan created in 2010 to create a whole new dynamic at The Crossroads. Seeking out Dollar Tree and leasing to them came about as a response to stakeholder input, and Dollar Tree is only the beginning. Appealing building designs and fresh landscapes are part of the plan for The North Amityville Crossroads Shopping Center. Plans call for additional retail or professional space to be constructed, and lush landscaping is planned for the entire North Amityville Crossroads Shopping Center. A very dynamic feature of the plans for The Crossroads is K Corporation's intention to host community events at the new shopping center. "We understand the deep cultural richness and important heritage of North Amityville," Kaplan said. "We would like to partner with civic organizations to sponsor community events which will showcase that richness and invite community participation and pride. We would like to host art festivals that feature local artists, music events with local musicians, and food events such as cook-offs and possibly food truck nights. We want to invite the community into the space."
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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.