Melville, NY According to T. Weiss Realty Corp., a family-owned developer, landlord and manager of commercial real estate, Sphere, a payments technology and software company, has relocated and expanded its executive offices within its 500,000 s/f office portfolio.
Sphere, which also has offices in Nashville and Dallas, moved from 3,400 s/f at Melville Corporate Center I, 105 Maxess Rd., to 6,000 s/f at Melville Corporate Center III, 324 S. Service Rd.
The company, owned by Waud Capital, a private equity firm based in Chicago, is a leading provider of end-to-end integrated payments and security software.
“We are very pleased that Sphere has chosen to relocate its growing business within our first-class office property portfolio,” said Craig Weiss, president of T. Weiss, who represented the landlord and tenant in the transaction.
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.