News: Long Island

Delisle of Island Assocs. brokers lease extension for CardSmart at Babylon Market Place

Babylon, NY Roger Delisle of Island Associates negotiated a long-term lease extension with CardSmart for their space at Babylon Market Place shopping center.

CardSmart has been a tenant for over 20 years at the shopping center and with the long term lease extension will be able to renovate their store and continue to serve the local community.

Babylon Market Place is a 35,000 s/f neighborhood center anchored by Crunch Fitness.

Also, Island Associates negotiated a lease expansion and extension with Noble Gold for office spaces at 490 Wheeler Rd. in Hauppauge.

Noble Gold expanded their existing footprint at the office building and extended their term.  Noble Gold is a business specializing in the transaction of gold and silver assets.

490 Wheeler Rd. is a 50,000 s/f two story office building with access to the LIE and a mix of office tenants.

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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.