News: Long Island

T. Weiss Realty Corp arranges eight leases/renewals totaling 24,795 s/f in its Melville office portfolio

T. Weiss Realty Corp. has completed eight new leases and renewals in its office portfolio totaling 24,795 s/f. T. Weiss, a family owned developer, owner and manager of class A office properties, completed these deals at 105 Maxess Rd., also know as Melville Corporate Center I: * Environmental Resources Management (ERM), a London-based global provider of environmental, health, safety, risk, and social consulting services, leased 5,330 s/f. Brian Cruz and Ray Ruiz of Jones Lang LaSalle represented ERM, while Craig Weiss, managing director of T. Weiss Realty, represented the landlord in-house. * Freedom Abstract, a title insurance agency, relocated within the building, expanding its footprint from 3,048 s/f to 5,469 s/f. Weiss handled the direct deal in-house. * Brainstorm Studio Inc., a web design firm, leased 810 s/f in another direct deal. * SLS Business Group, LLC d/b/a Fusion, a merchant services business, leased 3,291 s/f, also in a direct deal. * The Law Offices of Steven A. Kass P.C. and Scott Gottlieb, CPA renewed their joint lease for 1,900 s/f in a direct deal. T. Weiss' Melville Corporate Center II, located at 330 S. Service Rd., Prospect Mortgage LLC, a mortgage-banking firm, leased for 4,135 s/f. Roger Wooster of Cushman & Wakefield represented Prospect. Craig Weiss represented the landlord in-house. At T. Weiss' Broadhollow Corporate Center, located at532 Broadhollow Rd.: * The Law Offices of Peter D. Baron signed a new lease for 2,510 s/f in a direct deal. * The Law Offices of Alfred S. Walendowski P.C. renewed a lease for 1,350 s/f, also in a direct deal. "We are extremely pleased to have made these deals, which we believe are indicative of the strengthening office market in our region and a reflection of the desire of tenants for quality office space at competitive rents," said Ted Weiss, founder and chief executive of T. Weiss Realty Corp.
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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.