Port Jefferson Station, NY SVN|Realty Three Advisors LLC completed the sale of 1010 Rte. 112.
PJ7 LLC purchased the 20,000 s/f medical professional office building from 1010 Executive Center LLC for an undisclosed amount. The multi-tenant building was owned by 1010 Executive Center LLC for over a decade and is tenanted by long term tenants such as New York Blood Center, Quest Diagnostics, and Hayduk Engineering.
Aric Schachner and Lorraine O’Hara of SVN | Realty Three Advisors represented the seller and Yona Slonim of Corcoran represented the buyer.
O’Hara said, “Aric and I were happy to find a great new owner for the property. The building’s existing tenants are in wonderful hands with the new ownership group.”
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.