News: Long Island

Zere R.E. Services completes 3 transactions totaling 21,200 s/f

Zere Real Estate Services exclusively represented a 9,800 s/f industrial zoned warehouse facility on 5.18 acres. Originally the property was for sale only, the site had high ceilings of 18 ft. clear and loading capacity with a huge loading dock and several overhead doors making warehouse distribution a natural, conveniently located within close proximity to Rte. 58 and the Long Island Expressway. The new tenant, Frito Lay North America was brought in by Gary Friedman of Schacker Real Estate to service the east end of Long Island's North and South Forks. "This commercial deal was a bit complicated because there were several existing tenants already occupying the premises that needed to be relocated rather quickly to accommodate the sensitive time frame and the new building requirements that the corporate office of Frito-Lay had requested for their new operations. The end result was everyone worked together in a timely fashion to satisfy all parties involved so their businesses would not miss a beat," said Michelle Marie Zere, vice president, Zere Real Estate Services In the Town of Riverhead, there is a lack of adequate industrial multi-tenanted spaces for small business owners. It just so happens that Zere Real Estate Services also represented the two adjacent commercial parcels next to this site with newly constructed industrial buildings. Paul Caiola of Zere Real Estate Services moved a local company, Gear Works that supplies the local fishing industry on Long Island with commercial fishing equipment. Their new 6,000 s/f home will be at 1074 Pulaski Street with a long term lease, this way their customers are satisfied along with the employees. Another Zere deal at 1074 Pulaski St. is a new 11,400 s/f jungle themed children's party center co-brokered with Ike Israel of Richmond Realty Corp. called Safari Party. Caiola exclusively represented the property and Ike Isreal supplied the tenant.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
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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.