Perna of Newmark Grubb Knight Frank brokers $5 million sale of 130,000 s/f building to Reiko Wireless

Ralph Perna, executive managing director of Newmark Grubb Knight Frank, has completed the $5 million sale of 350 Carleton Ave. The property consists of a130,000 s/f building on 13 acres. Following four interested parties over a five-year period, 350 Carleton Ave. sold to Reiko Wireless from Brooklyn. Reiko Wireless is in the wireless accessory business with offices in Los Angeles and Miami. The company intends to renovate the 130,000 s/f building, previously owned by NYS Office of General Services, to include a new façade, 12,000 -13,000 s/f of offices, plus a new site plan to be approved by the Town of Islip. In addition, Reiko Wireless will employ 80 people and intends to increase employment to close to 100 people over a five-year period. The sale of the property included the IDA's approval for a12-year tax abatement and the successful transaction included the joint efforts of the Town of Islip IDA, NYS Office of General Services personnel and the attorney's for Reiko Wireless. Perna represented the buyer and seller. The buyer was brought to Perna through Happy 8 Realty.