Market Monitor LI Newsletter
December 2010 Vol. 2 Issue 4
Happy Holidays


 Evaluate Tenants and Reduce Your Risk
By David G. Hunt

We own an office building on Long Island that houses our own offices, as well as several tenants. We recently had a tenant close his doors after only a single year of occupancy. How do we avoid this in the future?

As a landlord, you will be investing thousands of dollars in securing a new tenant for your vacant space. The expenses will include the tenant workletter, legal representation and brokerage costs at a minimum. How do you minimize the risk of your investment?

While every lease is different, the methods for protecting your investment are similar in most transactions: Securing the upfront expenses, evaluating references, and inspecting the current premises of the proposed tenant......
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Cartoon
Companies on the Move
Action Envelope & Printing Co. is moving to 5300 New Horizons Boulevard, Amityville...  I.WI Industries Lamp and Lighting Parts is moving to 725 Broadway, Holbrook... CBM Corp  is moving to 200 Oak Drive, Syosset... Jaylyn Corp. is moving to 100 Marcus Boulevard, Hauppauge... Via Com is moving to 400 Route 110, Farmingdale... GM Advisory Group is moving to 400 Broadhollow Road, Melville... PGM Industries is moving to 21 Brooklyn Avenue, Massapequa...

What's New at Hunt
Financing File
Current Market Rates and Programs for the Long Island Commercial Marketplace

The SBA 504 loan program offers long term (10 or 20 years) fixed rate subordinate mortgage financing for the purchase and renovations of existing buildings or new buildings and equipment. Loans are up to 40% of the project cost, maximum of $5,000,000 for manufacturers and $1,500,000 for all other businesses.... (MORE)

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Our Corporate Headquarters


5 Aerial Way, Suite 100
Syosset, NY 11791
516-937-1000
www.huntcorp.com
COMPARABLE SALES IN THE LAST 12 MONTHS
 

City            
Address                          
Property Type  
Size SF  
Office SF
 Acres Total Sold Price/SF 
 Sold Date 
Melville
525 Broadhollow Road
Industrial Office
110,900
33,503
6.9
$75.7411/22/2010
Commack
66-70 Austin Boulevard
Industrial
40,000
6,000
2.66
$80.0010/27/2010
Port Washington
50 South Bayles Avenue
Industrial
12,000

.50
$77.1710/21/2010
Westbury
120 New York Avenue
Industrial
25,000
3,000
.75
$84.2010/19/2010
Ronkonkoma
105 Remington Boulevard
Industrial
13,860
2,356
.92
$81.8910/12/2010
Amityville
38 Williams Street
Industrial
19,000
6,000
.59$48.6810/12/2010








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