News: Long Island

Tilles & Zuckerbrot signs 2 renewals totaling 210,628 s/f

Tilles & Zuckerbrot has renewed leases, totaling more than 210,628 s/f, with two major office tenants at its office building at 1055 Stewart Ave., according to landlord principals Peter Tilles, Sanford Zuckerbrot, Frank Zuckerbrot and Lawrence Smith. The Zuckerbrot family (in business 50 years) and the Tilles family (in business almost 100 years), acquired the building in the autumn of 2006. The two tenants are: * Briarcliffe College (a division of Career Education Corporation), which has been in the building for fifteen years, and has renewed for 116,500 s/f; and * Northrop Grumman Systems Corp.'s engineering and development division, which has been in the building ten years, and has renewed for 94,128 s/f. "There was considerable competition from other office buildings to lure these important tenants away," said Sanford Zuckerbrot, who is chairman of Sholom & Zuckerbrot Realty, which acted on behalf of the landlord in the transactions. "But at the end of the day, the two tenants realized that this was the best opportunity to sign with their prestigious landlord - and that both the building and Bethpage are hard to beat." In both renewals, the tenants were represented by Philip Heilpern of CB Richard Ellis.
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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.