News: Long Island

Levine of Charter arranges 3,000 s/f lease for SoulCycle

Charter Realty & Development has arranged its third transaction on behalf of SoulCycle for a 3,000 s/f space at the Woodbury Common Shopping Center. Peter Levine of Charter represented SoulCycle in direct dealings with Neal Kaplan of Kabro Associates. Woodbury Common is an 85,000 s/f center which is in the process of undergoing a complete transformation. The center will add over 30,000 s/f of new space, additional parking and new façades and amenities. In addition to SoulCycle, additional new tenants slated to open are a 20,000 s/f Fresh Market, as well as numerous other upscale fashion retailers and better quality restaurants. SoulCycle's full-body workout has revolutionized indoor cycling and taken the world of fitness by storm. Combining inspirational coaching and high-energy music, SoulCycle offers an engaging workout that benefits both the mind and the body. Each SoulCycle ride delivers an intense full-body workout with a fun and energizing atmosphere. Not only do riders burn calories and get their hearts pumping, but using the SoulCycle Method, riders also work their core and use hand weights to tone their upper bodies. Beyond providing an intense cardio workout, SoulCycle also incorporates a mental component of inspirational coaching. Charter currently owns or leases over 12 million s/f of shopping centers throughout the northeast.
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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
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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.