News: Long Island

NAI Long Island completes over $28 million in transactions through first half of 2014

NAI Long Island, a member of NAI Global one of the world's premier managed networks of commercial real estate firms, has closed over $28 million in transactions in the first half of 2014. Carmine Inserra, principal and executive director of NAI Long Island, is pleased with the first half of the years volume. "We are seeing a rebound in commercial real estate, particularly in the medical sector, which is impacting the general office market by absorbing space in buildings that previously precluded medical uses. In turn, by reducing the inventory of available space, the market is getting tighter," said Inserra. NAI Long Island is the exclusive agent for 623 Stewart Ave. in Garden City, formerly a COMP USA building that has been redeveloped to medical/office space. Founded in 1980, NAI Long Island is a full service commercial real estate organization providing sales, leasing, tenant/landlord representation, property management and consulting services. NAI Long Island is proud to be the Nassau, Suffolk, and Queens County representative of NAI Global. NAI Global is one of the largest, most powerful global networks of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million s/f of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
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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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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.