News: Long Island

Newmark Knight Frank brokers seven transactions: 387,000 s/f total

According to Newmark Knight Frank, the firm has completed the following seven transactions: * Global Tissue Group initially leased 105,000 s/f at 1195 Lakeland Ave. and immediately expanded into 100 Orville Dr., with a total amount of space of 200,000 s/f. Ralph Perna of Newmark Knight Frank represented both the tenant and landlord in this transaction. * Echo Lake leased 20,000 s/f at 85 Marcus Dr. in Melville. Ralph Perna represented Echo Lake and Majestic Properties represented the landlord, Liberty One. * Rume leased 22,000 s/f at 565 Broadhollow Rd. in Farmingdale. Ralph Perna represented the tenant and Buck Realty represented the landlord. * Harris Jewelers purchased 800 Prime Pl. in Hauppauge, consisting of 12,000 s/f headquarters office facility. Ralph Perna represented both the owner, Medical Action Industries and the purchaser on this transaction. * 1290 Motor Pwy, consisting of 37,000 s/f was purchased by 1290 Motor Parkway Associates. Ralph Perna and Richard Perna of Newmark Knight Frank LI represented both purchaser and seller. * Sunrise Medical Laboratories has purchased 250 Miller Pl. in Hicksville for their new headquarters consisting of 88,000 s/f, including office area for their Northeast region and lab area for the analysis. The seller was Steel Tribune and Ralph Perna represented Sunrise Medical Laboratories in this transaction. * 880 Marconi Ave., Ronkonkoma, consisting of approximately 8,000 s/f, was sold to Fortune Bridge. Richard Perna represented the purchaser and Mike Schefren from Sutton & Edwards represented the sellers.
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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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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.