News: Long Island

TRITEC Real Estate Company signs 1,240 s/f lease to TWIG

According to TRITEC Real Estate Company, Inc., The Wall Consulting Group (TWIG) has signed a 1,240 s/f lease for office space at 31 West Main St., part of the New Village at Patchogue redevelopment. TRITEC represented the landlord and TWIG represented themselves. TWIG is an engineering firm specializing in finding large scale sustainable engineering solutions, sustainable energy design solutions, computer aided drafting design and construction project managing. D.R. Wall, P.E., president/CEO of TWIG said, "We started this journey back in 2007 in Suffolk County and we are elated to now re-establish one of our national offices in Suffolk County. Our primary goal will be to continue embracing energy saving technologies, towards sustainable engineering solutions on Long Island with the many developers, architects and contractors we engage." Robert Taliana, director of property management for TRITEC Asset Management handled their tenant improvements. Rob Loscalzo COO for TRITEC said, "The Wall Consulting Group (TWIG) was a pleasure to work with and we're happy to have them as our newest office tenant at New Village." TRITEC offered TWIG a turnkey solution from lease to occupancy. "The goal was to get TWIG into their space within one month of agreeing to a deal." 31 West Main St., part of the award winning New Village at Patchogue development, was purchased by TRITEC and was in need of major renovations. TRITEC restored the building back to its original character replacing the facade, replicating the original cornice built in 1897, renovating the lobby and elevator core and restrooms. TRITEC blended the old and the new and engaged local artists for the lobby floor and elevator renovations. Several of the office suites are loft style space and the building is 100% leased. New Village at Patchogue offers 291 residential units, 46,100 s/f of restaurant/retail, and 18,000 s/f of office space.
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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.