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June 2012 Vol. 3 Issue 10
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Industrial Office Conversions
By David G. Hunt
We are looking for a small office building to buy for our professional practice. Our broker is suggesting that we buy an industrial building and convert it to an office building. Is this practical?
As property values have risen on Long Island, particularly in Nassau County, the highest and best use of properties has often changed. So a well-placed industrial building may indeed be a candidate for conversion. And it may also be a pitfall for the unwary! So let's take a look at some of the factors involved in a conversion and how practical it may be.... (MORE)
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Thomas J. Hanik joins Hunt Corporate Services, Inc.
April 19, 2012 - Plainview, NY - Hunt Corporate Services, Inc. announced today that Thomas J. Hanik has joined the firm as Senior Managing Director. He has been in the Real Estate industry for over nine years with a concentration on Title Insurance. Mr. Hanik specializes in commercial real estate analysis development, finance, valuation and project management.
"Tom brings a wealth of experience to our firm," said David G. Hunt, President of Hunt Corporate Services, Inc. "His education in finance and real estate along with his nine years of title insurance experience are an unbeatable contribution to our team."
Mr. Hanik received a Master of Science Real Estate degree from New York University, a Bachelor of Business Administration degree in Finance from Hofstra University in NY and a Master of Theology degree from Dallas Theological Seminary in Texas.
Hunt Corporate Services, Inc. specializes in exclusively representing Long Island firms for the acquisition and disposition of commercial real estate. For further information, contact Christa Cherney at (516) 937-1000 or ccherney@huntcorp.com. Full information on the firm and their clients can be found at www.huntcorp.com.
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Your Construction and Maintenance Department |
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| Companies on the Move | |
Windsor Medical is moving to 105 Maxess Road, Melville... Hain Celestial Group is moving to 1111 Marcus Avenue, Lake Success... Morgan & Sampson USA is moving to 105 Maxess Road, Melville... AASE Automotive is moving to 805 Middle County Road, St. James... Franchina & Giordano is moving to 1050 Franklin Avenue, Garden City... East Hill Instruments is moving to 5000 Brush Hollow Road, Westbury... Dish Network is moving to 425 Oser Avenue, Hauppauge... AHMSI is moving to 1393 Veterans Memorial Highway, Hauppauge...
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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..... (MORE) |
Our Corporate Headquarters 17 Dupont Street, Suite 4 Plainview, NY 11803 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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Bohemia |
1591 Smithtown Avenue | Industrial | 18,382 | 2,775 | 1.3 | $100.64 | 5/16/2012 | | Ronkonkoma |
775 Marconi Avenue | Industrial | 7,740 | 500 | .57 | $71.06 | 5/15/2012 | | Sayville |
175 Greeley Avenue | Industrial | 11,700 |
| 1.86 | $55.56 | 4/3/2012 | |
Yaphank |
31 Old Dock Road | Industrial | 11,871 | 2,374 | 1.23 | $82.55 | 4/2/2012 | | Westbury |
900 Shames Drive | Industrial | 12,774 | 4,788 | .6 | $103.73 | 3/15/2012 | | Hauppauge |
80 Arkay Drive | Industrial | 120,000 |
| 3 | $150.00 | 3/14/2012 | | | | | | | | |
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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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