Island Associates brokers 57,000 s/f lease

Island Associates has successfully brokered another CVS site on Jericho Tpke. and Roslyn Rd. consisting of approximately 57,000 s/f or 1.31 acres. The site was former Jericho Diner and a closed gas station. The fee owner is BRT Realty consisting of local developers who purchased the property in '06. The site involved assembling both the gas station and the diner to provide access on Roslyn Rd. and Jericho Tpke. The permit for a 13,000 s/f store with a drive thru entailed over 18 months to consummate transaction with the fee owner, site plans and submittal to the Village of Mineola. This dilatory process involved the DOT, environmental agencies and the village all working to the eventual construction of a CVS at this location. Aggregate rental exceeds $13 million. The site is located at a light directly opposite Walgreen's. Island Associates represented CVS with Gary Brody from Brody Realty representing the fee owner.