December 2010 Vol. 2 Issue 4
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Evaluate Tenants and Reduce Your RiskBy 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......(MORE)
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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...
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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 |
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COMPARABLE SALES IN THE LAST 12 MONTHS
City
| Address
| Property Type
| Size SF
| Office SF
| Acres Total | Sold Price/SF
| Sold Date
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Melville
| 525 Broadhollow Road
| Industrial Office
| 110,900
| 33,503
| 6.9
| $75.74 | 11/22/2010
| Commack
| 66-70 Austin Boulevard
| Industrial
| 40,000
| 6,000
| 2.66
| $80.00 | 10/27/2010
| Port Washington
| 50 South Bayles Avenue
| Industrial
| 12,000
|
| .50
| $77.17 | 10/21/2010
| Westbury
| 120 New York Avenue
| Industrial
| 25,000
| 3,000
| .75
| $84.20 | 10/19/2010
| Ronkonkoma
| 105 Remington Boulevard
| Industrial
| 13,860
| 2,356
| .92
| $81.89 | 10/12/2010
| Amityville
| 38 Williams Street
| Industrial
| 19,000
| 6,000
| .59 | $48.68 | 10/12/2010 |
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�Copyright 2010, All Rights Reserved. The content of this web site may not be reproduced without the written permission of HUNT Corporate Services, Inc. All information is from sources deemed reliable and is subject to prior rental or sale, errors, omissions, change of price and withdrawal without notice.
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