Hauppauge, NY Easterly Group LLC and CRA Realty brokered a long-term class A office lease at Crossroads Corporate Center.
Ace Consulting Partners Inc., a merchant cash advance firm providing funding to businesses of all types across the country, leased 2,750 s/f of office space at 1383 Veterans Memorial Hwy. in a move from their long-time space on Middle Country Rd. in Coram where they had been since their inception.
Naji Nizam of Easterly Group, who exclusively represented the tenant, and Aaron Smiles of CRA Realty, representing landlord Crest Hauppauge LLC, negotiated the long-term lease at the 200,000 s/f office park. The location with direct access off the LIE at exit 57 was pivotal in the decision process.
The landlord handled everything in house from property tours thru construction making the entire process seamless and very accommodating.
Daniel Scarda, director of corporate finance for The Crest Group, said, “The new Ace Consulting Partners lease at 1383 Veterans Memorial Hwy. in Hauppauge means that building is now 100% occupied.”
“We’d been hearing for years that the office market on Long Island is a buyer’s market. We didn’t find that to be true in our case, at least for what we were looking for in terms of amenities,” said Aaron Fricker, CEO of Ace Consulting Partners.“While we could see plenty of vacant offices on the island, we didn’t come across many that had the amenities we wanted, such as a fitness center, conference facilities, covered parking, onsite owner/management offices and a gourmet café, in addition to one that was also able to accommodate our ideal space size. We tried finding a space with multiple brokers for months on end with no luck. Then we reached out to Naji, who we’d known for a long time. As soon as we relayed our needs to him, Naji worked tirelessly. While guiding us in our search, it was clear he was super knowledgeable about the market and industry as a whole. When it came to negotiations, he did a phenomenal job of protecting our best interests while making sure we didn’t get hung up on the little things that would’ve slowed the deal down.”
Smiles said, “We enjoyed working with Naji and look forward to a rapid move in date for Ace Consulting Partners.”
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.