November 2009 Vol. 1 Issue 3 |
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Hiring a Tenant/Buyer BrokerA real estate broker wants to represent our company
exclusively, but we are nervous that we may not see all of the available
properties if we limit ourselves to one broker.
It seems that we may have a better chance of finding the right space if
we "play the field" with several brokers.
Is this the right approach?
You
are right to be circumspect about signing an exclusive contract with one
broker, but not for the reason you suspect.
Virtually all experienced brokers will have access to every potential
available property in the marketplace...(MORE)
Importance of Lease Abstracts
We have just signed a lease for new manufacturing and warehouse space. The lease document is 67 pages long! What is the best way to keep track of all our commitments?
Probably
the last thing on a tenant or landlord's mind at the successful completion and
execution of lease negotiation is additional paperwork. But there is one last item on the checklist
that should be done at the completion of every successful lease - the lease abstract. ...(MORE)
Other Articles on Commercial Real Estate For the Buyer or Tenant:
Things to Consider Before Signing an Office Lease For the Seller or Landlord:
Perfect Seller
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Free Long Island Market Report 3rd Quarter 2009 |
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Companies on the Move
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Amico Source...
moving to 71 East Industry Court, Deer Park... Shoreline Records Management ... moving to 28 Industrial Boulevard, Medford ... Brothers Building Materials ... moving to 17 Central Avenue, Hauappauge ... Data Path Inc.. ... moving to 20 Austin Boulevard, Commack ... Pall Corporation ... moving to 25 Harbor Park Drive, Port Washington ... Yale Assocaites Inc,... moving to 25 Orville Drive, Bohemia... Nathan's Famous Inc.... moving to 1 Jericho Plaza, Jericho...Arizona Beverage Co.... moving to 60 Crossways Park Drive, Woodbury...
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Financing File
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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 $4,000,000 for manufacturers and
$1,500,000 for all other businesses.... (MORE)
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COMPARABLE SALES IN THE LAST 12 MONTHS
City
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Address Street
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Property Type
|
Size SF
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Office SF
|
Acres Total |
Sold Price/SF
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Sold Date
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Ronkonkoma
|
845 South First Street
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Industrial |
64,224
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5,000
|
4.3 |
$75.05 |
11/4/2009 |
Wyandanch |
330 Long Island Avenue
|
Industrial |
8,000 |
800
|
.38 |
$74.38 |
8/31/2009 |
Hauppauge |
230 Adams Avenue
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Industrial |
65,000 |
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4.80
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$96.00 |
8/11/2009 |
Deer Park
|
540 Brook Avenue
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Industrial
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17,300
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1,730
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1
|
$85.26 |
6/30/2009 |
Lynbrook
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162 Atlantic Avenue
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Office Industrial
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6,500 |
4,000 |
.21
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$169.23 |
6/24/2009 |
Uniondale
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972 Nassau Road
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Industrial |
14,042
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2,100
|
.49 |
$83.68 |
6/23/2009 |
MORE |
�Copyright 2009, 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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