News: Long Island

Zere of Zere Real Estate Services closes on 46,200 s/f office, industrial leases

Michael Zere, executive vice president of Zere Real Estate Services has been busy during the second quarter of 2012, closing on 46,200 s/f of office and industrial leasing deals in Suffolk County. Zere said, "Despite the fact that we are in an election year commercial leasing has been dominant over sales in Suffolk County. In my professional opinion, this is due to the banks being stringent with lending and customers going the temporary uncomplicated leasing route instead to ride out the economic storm and operate their businesses through the rough seas of this financial climate," he said. Zere Real Estate Services anticipates the leasing market going forward to be strong for mid-size to small companies in the upcoming remaining quarters of 2012 to accommodate the growing demand for commercial real estate properties to lease. Zere leased the following industrial space: * Ellbridge Group, LLC: 5,000 s/f * Cover Grip Corp., Bohemia, 4,000 s/f * N.J. Pharma Corp., Medford, 3,000 s/f; * Blue Chip Surgical Supplies, Holbrook, 2,500 s/f; * Gutter Helmet of Long Island, Ronkonkoma, 2,000 s/f; * Real Time Medical Equipment, Ronkonkoma, 2,000 s/f; * Uptek Solutions, Inc. Bohemia, 2,000 s/f; * Keirnan Properties, Inc., Bohemia, 2,000 s/f; * Geometric Circuits Inc., Holbrook, 1,500 s/f; and * Island Controls, Copiague, 1,500 s/f; Office Space: * Linus Publishing, 5,000 s/f; * Ameristar Energy, LLC, 2,300 s/f; * Freehand Graphics, Holbrook, 1,800 s/f; * Precision Diagnostics, Bohemia, 1,600 s/f; * Sachem Teen Center, 1,200 s/f; * Winebow Corp., Holbrook, 1,000 s/f; * Introspective Counseling, Patchogue, 1,000 s/f; * Youman, Modeao & Fasano P.C., Patchogue, 1,000 s/f; * Dehai Zhang, Esq., Lake Grove, 1,000 s/f; * Marie Surpris, Therapist, Lake Grove, 1,000 s/f; * John Tsouris, Pediatrist, Lake Grove, 1,000 s/f; * L.I. Points of Sale, 1,000 s/f; * SLD Realty Properties, 600 s/f; * MAC III, LLC, 600 s/f; and * Sachem Insurance, Bohemia, 600 s/f;
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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.