News: Long Island

Spatola of Realty Connect completes
21,000 s/f office lease at 5 Orville Drive

Bohemia, NY Realty Connect Commercial Partners, a division of Realty Connect USA, completed a 21,000 s/f office lease at 5 Orville Dr.

JoAnn Spatola of Realty Connect represented the tenant. Chris Costa of Rechler Equity Partners represented the landlord.

The tenant, Professional Retail Services and its two affiliated companies, Retail Security Services and Retail Mechanical Services will occupy the space. The company is a leader in the facilities maintenance industry and has been in business since 2000. Due to growth, they are doubling their footprint as they are leaving 10,000 s/f to occupy 21,000 s/f. They provide facilities maintenance services, security guard services and HVAC services through their affiliated companies.

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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
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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.