July 2014 Vol. 5 Issue 12
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Dear Friends,
We have a new exclusive property for sale - a beautiful 20,000 square foot industrial building for sale at 100 Christopher Street in Ronkonkoma. We recently had an open house at the property, and over 30 brokers attended. As I spent two hours talking with my broker friends, it occurred to me how grateful I am to be in this industry.
Many people are surprised to discover that we cooperate with our competitors all day long in the commercial real estate industry. (One of us usually representing the tenant or buyer, and the other representing the landlord or tenant.) I often use the analogy of two attorneys who battle it out in court in the morning, and then go out to lunch together! And we often share information, and assist each other as well.
Most of the brokers who attended our open house I have known for decades. And I chatted with two that I have known for 35+ years each! So here is a salute to my competitors (and friends!) Thank you for all that you have provided and taught me.
"Oh the possibilities!"
David G. Hunt
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Caring for a Vacant Building
by David G. Hunt
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Q: We are moving to a new location, but the industrial building that we currently occupy has not been sold yet. It is not practical for us to have an employee stay on site, or regularly travel to the building. Do you have any recommendations?
A: In a sense, a building is a living, breathing organism. Systems go on and off, regular maintenance is required, and security and protection are a must. It would not be wise to completely abandon the building, if for no other reason than creating a good impression with potential buyers. The "care and feeding" of your property is essential, whether by a member of your staff (preferably the person who handled the maintenance while you occupied the building) or a professional manager. When we are hired as a property manager for a vacant building, we use extensive checklists.
We start with the exterior, and probably, at least, a once a week inspection: What is the status of the landscaping and irrigation system? Is there illegally dumped debris, or paper litter? We are also looking for problems like pest control, graffiti, potholes and unauthorized trucks. In the winter, we recommend snow plowing, at a minimum to allow full access to the building by fire trucks. In the spring and summer, grass needs to be cut and beds cleaned.
In general, you want to make the building look as occupied as possible. We highly recommend motion-detecting exterior lighting, as well as internet cameras (which are very reasonably priced today), both of which will discourage illegal dumping and abandoned vehicles, a very major headache for property managers today! If feasible, chains or fences at ingress and egress points of the property will also discourage this activity
Click here for full article
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Commercial interiors are our specialty!
From interior painting and carpeting
to full retail and office space build-outs.
We coordinate all the trades
and keep it all running smoothly.
Need to keep your business running
while under construction?
We can make that happen too!
Give us a call.
It never hurts to get another bid.
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Hunt Construction Services, Inc.
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Installing drywells
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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
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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
| 734 Walt Whitman Road | Office Investment | 41,000 |
| 1.30 | $89.02 |
6/25/2014
| West Hempstead | 300 Hempstead Turnpike | Office | 33,000 |
| 0.74 | $98.94 |
6/25/2014
| Glen Cove |
50 Glen Street
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Office
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28,000
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0.25
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$107.14
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6/13/2014
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Plainview
| 179 Express Street | Industrial Flex
| 17,936 |
| 1.50 | $102.59 |
6/3/2014
| Lindenhurst
| 301 Henry Street | Industrial Office
| 142,860 | 24,860 | 7.25 | $47.60
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6/2/2014
| Garden City | 1075 Stewart Avenue | Industrial | 53,316 | 6,000 | 2.3 | $93.78 |
5/30/2014
| | | | | | | | | For more Recent Sales, click here |
�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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