Islip, NY Roger Delisle and Richie Buono of Island Associates Real Estate Inc. negotiated and closed the purchase and sale of a 5,200 s/f industrial/warehouse building located at 205 Brookville Ave. The warehouse section of the building has over 20 ft. of clear space below the steel, making it an ideal building for warehousing and equipment storage. The building is located off of Commack Rd. and was previously occupied by All State Roofing.
The purchaser will be making substantial improvements to the building and leasing it for investment purposes. The purchaser is a group of investors that own shopping centers, single tenant properties, industrial buildings, and apartment complexes up and down the East Coast.
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.