News: Long Island

Island Associates negotiates three leases totaling 6,855 s/f

490 Wheeler Road - Hauppauge, N.Y.

Islip, NY Island Associates negotiated three lease agreements for retail and office space at two properties.

Pat’s Carpet has entered a long-term lease for 2,855 s/f of retail/showroom space at 181 Freeman Ave. Pat’s Carpet is relocating its showroom to Freeman Ave. and the landlord is building-out a new showroom and warehouse area for the flooring business. Pat’s Carpet has been serving the flooring needs of Long Island’s homeowners and businesses for over 50 years. Pat’s Carpet joins Golds Gym, Triple Crown Warehouse and other tenants at the 80,000 s/f flex building.

Island Associates negotiated two long-term lease extensions for office spaces at 490 Wheeler Rd., Hauppauge.

Russell Capital signed a long-term lease extension for over 4,000 s/f of office space. Russell Capital has been in the building since 2018 and have expanded their space twice in that time.

Long Island Advocacy, who has been a tenant at 490 Wheeler Rd. for over 20 years, completed a long-term lease extension to remain in their existing space.

490 Wheeler Rd. is a 50,000 s/f two story office building with access to the Long Island Expwy.

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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.