News: Long Island

SVN | Realty Three Advs. brokers three leases totaling 8,640 s/f

Holbrook, NY SVN | Realty Three Advisors LLC, a commercial real estate brokerage franchise has leased  three spaces totaling 8,640 s/f at 1337 Lincoln Ave.  The industrial building is part of a six building multi-tenant portfolio with units ranging from 1,630 – 4,050 s/f.  Located in the Holbrook/Bohemia/Ronkonkoma business zone, the area is home to hundreds of small and medium sized businesses with a smattering of large national companies.

The units were leased individually to local small businesses on a long term basis. The landlord, 1337 Lincoln Ave LLC, is proud to be the new home of Morrison Electrical Consultants, The Cloud Chemist, and L.B. Construction; an electrician, a consumer goods manufacturer, and a contractor respectively.  The lease rates and terms are undisclosed.

Two of the deals were sourced directly by Lorraine O’Hara and Aric Schachner of SVN | Realty Three Advisors representing both sides of the deal.

Lorraine O'Hara, SVN | Three Advisors

 

Aric Schachner, SVN | Realty Three Advisors

 

 

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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.