News: Long Island

Urban Edge Props. signs retail stores to Huntington Commons’ new redevelopment

Long Island, NY Urban Edge Properties has signed Burlington to a long-term lease at Huntington Commons. This addition fills a vacancy created when Marshalls relocated to an updated space within the center. Prime Urgent Care has been signed to a 3,112 s/f lease and is expected to open end of year 2023. With brand-new Marshalls and ShopRite stores now open, the center is on schedule to complete a multi-million-dollar redevelopment including new facades, landscaping and wayfinding signage, and will be 92% leased.

Huntington Commons also signed new concepts including CycleBar, GOLFTEC, iStretchPlus, New Chapter Apparel, and Phenix Salons which will expand the property’s essential services.

Urban Edge Properties was represented by Lee Allen of Arc Advisors Inc. for the Prime Urgent Care deal. Clifford Simon and David Rosen of CNS Real Estate represented Burlington.

“Burlington is a terrific complement to our existing merchandise mix at Huntington Commons,” said Leigh Lyons, senior vice president at Urban Edge. “With essential grocery alongside compelling value retail as well as new fitness and wellness options, there is even more reason for shoppers in the surrounding community to visit the property more often.”

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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.