News: Long Island

Perna of Newmark Grubb Knight Frank brokers two sales totaling $10.4 million; Also completes 32,000 s/f lease in Central Islip

Islandia, NY Ralph Perna, executive managing director of Newmark Grubb Knight Frank, has brokered two sales totaling $10.4 million and a 32,000 s/f lease. The deals include the following:

Ralph Perna, Newmark Grubb Knight Frank Ralph Perna, Newmark Grubb Knight Frank

• The sale of a 30,000 s/f industrial building located at 555 Raymond Dr., Islandia. The property was purchased by Printex Transparent Packaging for $3 million. Perna represented both sides of the transaction. The seller was Heller Realty.

• Whitson Foods leased 32,000 s/f at 1140 Motor Pwy. in Central Islip for additional office and warehouse space. Perna represented the tenant and landlord. Long Island Industrial is the owner and landlord.

• The sale of 150 Marcus Blvd.,  Hauppauge. The property is an 80,000 s/f industrial building and was sold to Pre Care, who manufacture and distribute, hand and body sanitizing wipes and associated products. This will be in addition to their manufacturing facility. Perna represented the buyer and Scott Berfas and Jack O’Connor represented the seller.

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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.