News: Long Island

Milvado leases 9,100 s/f to Master Mechanical

Huntington, NY According to Milvado, one of Long Island’s leading owner/managers of industrial property, Master Mechanical Corp., major air conditioning/heating/plumbing contractors, signed a new 9,100 s/f lease at 163 East 2nd St. 

Desmond Mullins of Industry One acted on behalf of the tenant, while Milvado was represented in-house. 

“Leasing velocity continues to be steady and strong into February,” said David Hercman, regional director, Milvado Property Group, who added that in January, Milvado completed new leases and renewals totaling 51,000 s/f, signaling unabated demand for industrial spaces on Long Island. 

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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.