News: Long Island

Trias of Rechler arranges 31,000 s/f lease to Ferrellgas in Melville; Costa of Colliers international reps tenant at 10 Hub Drive

Rechler Equity Partners has signed a new, 31,000 s/f lease with Ferrellgas L.P., a propane supplier, at 10 Hub Dr., according to company partners Mitchell and Gregg Rechler. "Rechler is pleased to work with Ferrellgas in helping them to secure additional space for their latest acquisition, Mr. Bar-B-Q, a barbeque tools, accessories and parts company," said Ted Trias, director of acquisitions & leasing at Rechler, who represented ownership in lease negotiations. "10 Hub Dr. proved to be the perfect fit for Ferrellgas' s/f and location requirements as they expand their operations." Ferrellgas is a leading national propane distributor, working with more than one million clients in the residential, corporate and agricultural sectors. It will occupy 31,000 s/f of the 95,671 s/f property at 10 Hub Dr., which features 20-ft. ceilings and offers quick access to the Long Island Expressway. The property at 10 Hub Dr. is part of Rechler's 13-building portfolio, totaling one million s/f of office, R&D, manufacturing and warehouse space. These properties offer exceptional access to hotels, restaurants and retail, in addition to being strategically situated within minutes of the LIE, Northern State Pwy., and Rte. 110/Broad Hollow Rd. The propane distributor was represented by Chris Costa of Colliers International of Long Island, Inc.
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Columns and Thought Leadership
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.