News: Long Island

Omstrom of JLL acts for Computech in $4.3 million sale of 26,000 s/f bldg.

Woodbury, NY JLL has completed the acquisition of 110 Crossways Park Dr. for Computech International. The technology solutions provider bought the mixed-use office building from an unnamed seller for $4.3 million.

The JLL professional completing the transaction for Computech International was Max Omstrom, associate. The unnamed seller was represented by Harris Rousso, founder and executive managing director, with Real Estate Strategies Ltd.

“Computech International’s business was thriving and the company was looking for a larger building that could accommodate its needs,” said Omstrom. “The firm found 110 Crossways Park Dr. to be ideal, offering ample office and warehouse space to house its operations.”

The single-story property was constructed in 1964 and is located in Nassau County. The property totals 26,000 s/f and includes 19,500 s/f of office space and 6,500 s/f of warehouse space. It features one drive-in door, a 14-ft. clear ceiling height, ample parking and a back-up generator. Syosset Woodbury Community Park is located behind 110 Crossways Park Dr.

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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.