News: Long Island

Thompson of Coldwell Banker Commercial NRT names new listing

Lois Thompson of Coldwell Banker Commercial NRT has a new exclusive listing. It is a 19-unit strip center at 3663-69 Rte. 12 in Coram that is fully tenanted and has another 8000 s/f buildable which is adjacent to the current end cap.   It is on 5 acres.  The asking price is $7.45 million with a cap rate of 7.38% which includes rent increases for this calendar year.
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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.