News: Brokerage

People’s Arc of Suffolk signs 10-year lease at 59 Sunrise Highway, East Islip, NY

East Islip, NY People’s Arc of Suffolk has signed a 10-year lease for a 4,000 s/f freestanding retail/office building at 59 Sunrise Hwy. The property will be repositioned for nonprofit use.

Jason Merrell of Island Associates Real Estate represented the landlord, while Frank Pagano and Cole Gartmayer of Avison Young represented the tenant.

The transaction highlights continued demand for well-located freestanding properties throughout Suffolk County, particularly among nonprofit and service-oriented organizations seeking visibility, accessibility, and long-term stability within established Long Island communities.

“This was a great example of adaptive reuse and finding the right long-term fit for the property,” said Merrell. “The building offered strong accessibility and a flexible layout that aligned well with the tenant’s operational needs. We’re excited to see the property transition into a use that will provide valuable community-based services and programs for adults with developmental disabilities.”

The lease further reflects continued demand throughout the Long Island market from nonprofit and community-based organizations seeking standalone properties capable of supporting long-term occupancy and specialized programming.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking