News: Long Island

Perna of Newmark Grubb Knight Frank completes a 125,000 s/f lease and a $2.3 million, 18-acre land sale

Ralph Perna, executive managing director of Newmark Grubb Knight Frank (NGKF) has brokered two deals that include a 125,000 s/f lease and a $2.3 million sale. The first deal is a 125,000 s/f, 10-year lease at 45 Ranick Rd. The space was leased to SK Archiving, is a record retrieval company primarily for the health care industry. This move will consolidate five off-site locations, and SK will remain in their current main location at 377 Carlls Path in Deer Park. Perna represented SK and Michael Barrett of M Barrett Associates represented the landlord. The second deal was the Cassone Trailer's purchase of 18 acres on Horseblock Rd in Yaphank from Woodside Yaphank Realty. Cassone will use the new location to consolidate three off-site locations. Perna represented Cassone, Sperry Van Ness represented the seller.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

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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.