March 2010 Vol. 1 Issue 7 |
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Four Stages of Real Estate Acquisition We are in the market to lease office space. What should we expect from our real estate broker?
Whether you are represented by an exclusive real estate broker, a corporate real estate department, or a paid consultant, your representative should be responsible for the four major stages of the real estate acquisition cycle....(MORE)
Subleasing Blues Our company needs to move to larger offices, but we still have nearly two years to go on our existing lease. Subleasing has turned out to be very difficult. What are our options?
Subleasing has probably turned out to be difficult because of the short term left on your lease. A lease is a depreciating commodity, with its value falling sharply in the final years. Few companies want to incur the expense of moving, phone installation, computer systems, printing and the like, when these costs can only be amortized over a couple of years. Yes, you have those "subleasing blues," but there are still alternatives ...(MORE)
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MEET OUR TEAM - JOHN HOBLIN, Jr.
John F. Hoblin, Jr., CCIM, is a partner and Senior Managing Director. He has been in the industry since 1980, and in the last dozen years has been doing high level corporate representation throughout the country. Mr. Hoblin has concentrated in the national and corporate arena, negotiating transactions from Maine to Florida and out to the Mid-West. Notable transactions have included the sale of a 500,000 square foot warehouse to Lenox China in Hagerstown, MD; the sale of a 220,000 square foot office building to the Town of Brookhaven on behalf of Allstate Insurance, in Farmingville, NY; the lease of a 145,000 square foot warehouse in Jacksonville, FL and a 120,000 square foot warehouse in Mobile, AL to US Lumber; and several hundred thousand square feet of office leases primarily for Allstate Insurance, Progressive Insurance and PNC Bank.
Mr. Hoblin holds the Certified Commercial Investment Member designation from the CCIM Institute.
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Companies on the Move
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Daejin American, Inc. ... moving to 5 Dubon Court, Farmingdale... Aggreko....moving to 115 Amfesco Drive, Plainview ... RS Abrams & Co. moving to 3033 Express Drive North, Islandia... CMB Wireless... moving to 40 Daniel Street, Bohemia... International Components Corp..... moving to 215 McCormick Drive, Bohemia ... Craft-Tech Mfg., Inc. ....moving to 1750 Arctic Avenue, Bohemia.... Allied Dynamics Corp... moving to 84 Modular Avenue, Commack...
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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
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Size SF
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Office SF
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Acres Total |
Sold Price/SF
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Sold Date
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Central Islip
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111 Windsor Place
| Industrial
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248,000
|
|
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$84.68 |
1/14/2010 |
Yaphank
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3 Old Dock Road
| Industrial Office
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12,072
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1.97 |
$126.33 |
1/10/2010 |
Farmingdale |
40 Daniel Street
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Industrial |
149,330
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36,512
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8.3
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$73.66 |
1/5/2010 |
West Babylon
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120 Otis Street
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Industrial
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13,300 |
1,330
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.75
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$109.40 |
12/31/2009 |
Westbury
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125 State Street
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Industrial
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17,000
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2,000
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.75
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$110.59 |
12/19/2009 |
West Babylon
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60 & 70 Bell Street
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Industrial
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15,500
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1,550
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1
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$83.87 |
12/18/2009 |
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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