News: Brokerage

Valentino and Tergesen of ABS Partners ink two leases totaling 2,150 s/f

ABS Partners Real Estate, LLC has completed two deals totaling 2,150 s/f at 234 Union Ave. for Armageddon Tattoos and an upcoming Spanish/American restaurant. ABS managing directors Dean Valentino and Mark Tergesen represented the tenant and landlord. Armageddon Tattoos signed a seven-year lease for 850 s/f in the building. "This new location really appealed to Armageddon Tattoos, especially since its previous building was undergoing renovations which would have interrupted its business operations," said Valentino. "With an established clientele who regularly seeks out its services, it was imperative that Armageddon Tattoos relocate as quickly and as smoothly as possible. 234 Union presented an ideal space and location for its needs and to grow the business." The Spanish/American restaurant, which is as-yet unnamed, signed a 10-year lease for 1,300 s/f on the building's corner. This is the newest venture for owner Venneio Infante, a seasoned restaurateur. "The surrounding area consists of many brand new condos and other new development, which made it a great place to open up a restaurant," said Valentino. "The vibrancy and energy of the surrounding areas made Venneio's decision easy as well as the corner location, which is extremely desirable." Existing tenants in the building include a laundromat. There is one more 550 s/f space still available that was previously a hair salon.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.