News: Long Island

Ruiz and Cruz of Jones Lang LaSalle represent TRITEC in 4,349 s/f restaurant lease

TRITEC Real Estate Co., Inc., has leased prime space in 31 WEST (31 West Main St.) to the owners of the popular Hoshi Sushi restaurant in Stony Brook. According to Robert Loscalzo, COO at TRITEC, the tenant plans to open a Sushi Hibachi restaurant in early fall in the 4,349 s/f space. Representing TRITEC in the transaction were Ray Ruiz and Brian Cruz with professional real estate services firm Jones Lang LaSalle (JLL). "The new restaurant will embody the spirit of New Village," said Loscalzo. "It is stylish, elegant, and impressive-the kind of restaurant that will make New Village a popular destination for residents and visitors alike. We look forward to contributing to the renaissance of downtown Patchogue by adding more restaurant/retail tenants in the coming months." Patchogue mayor Paul Pontieri said, "This is a very exciting period in the revitalization of our village. Each new tenant announcement moves us closer to the day when New Village becomes a reality. The new Sushi Hibachi restaurant will be a welcome addition to the community and I'm confident will prove a great success." TRITEC's New Village, a mixed-use residential development, brings the principles of Smart Growth and New Urbanism to an existing downtown village, enlivening the streets while providing civic amenities. Established in 1986, TRITEC Real Estate Company, Inc., has established itself as an industry leader dedicated to project delivery with quality and value. Through its affiliates, TRITEC has developed, constructed, financed and managed millions of square feet of commercial, medical, hospitality, retail, industrial and multi-family space.
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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.