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Deals & Dealmakers

LEASES: IMC renews, PetValu in Plainview

NEW YORK

Long Island Industrial, which owns and operates a mixed portfolio of commercial properties across Long Island, today announced that Interamerican Motor Corporation (IMC), a division of AutoZone, has renewed their long-term lease for 26,500 square-feet at 99 Lafayette Drive in central Syosset.

IMC is a distributor of OE quality import replacement parts for motor vehicles. Kelly Koukou of Lee & Associates represented IMC.

Located just off of Jericho Turnpike between Routes 135 and Routes 106 and 107, 99 Lafayette Drive provides easy access to all transportation routes and is in close proximity to Long Island Railroad’s Syosset Station. The 220,000 square-foot, multi-tenant industrial building is situated on an 11-acre property with ample parking. It is strategically positioned in central Syosset in a thriving business community with a well-educated work force and is adjacent to lodging and shopping.

Brett Maslin
Brett Maslin

IMC has partnered with more than 300 suppliers from over 40 countries to ensure complete product coverage for all European and Asian car lines. The company carries the service parts for domestic models including brake rotors, brake pads, filters and more.

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Adams & Co. Real Estate, LLC brokered a 2,063 square-foot new lease at 110 West 40th Street for Ilene Danchig.

David Levy, principal and Brett Maslin of Adam’s & Co. represented the tenant and the landlord in the transaction. Ilene Danchig is leasing the partial third floor space encompassing 2,063 square-feet. The asking price was $52 per square foot and the company plans to use the space for a textile consulting office.

Ilene Danchig is a textile design company that creates textiles for upholstery, bedding, wall coverings, carpets and tabletop industries.
110 West 40th Street is a 26-story, 129,808-square-foot property is located near Bryant Park and offers 24-hour access. Recent renovations include new elevators and a new lobby. Notable tenants include Belmont Freeman Arch., Nu Image and Women’s City Club of NY. Retail tenants include Croton Reservoir Tavern and Crisp Restaurant.

JAYSON SIANO
JAYSON SIANO

•••
Sabre Real Estate Group LLC has arranged a lease in Plainview for PetValu, a community-focused retail chain that provides pet owners with the best selection of pet care items at competitive prices.

PetValu, represented by Sabre Managing Principal Jayson Siano and director Melissa Naeder, will occupy 2,250 square feet at The Manetto Hill Plaza center in Plainview NY and has recently opened this spring.

The deal was closed by Siano and Melissa Naeder of Sabre and the landlord Kimco, represented by Rob Wachtler.

PetValu, which operates over 500 stores, looks for highly visible locations in shopping centers or freestanding buildings ranging in size from 2,000 to 4,000 square feet. PetValu continues to expand throughout the area.

•••
GHP Office Realty announced that Putnam County Savings Bank has chosen 2651 Strang Boulevard, Yorktown Heights in the Northern Westchester Executive Park for its new corporate headquarters.  The Northern Westchester Executive Park is located directly off the Taconic Parkway on Routes 202 and 35.  The Bank signed a long term lease for 25,352 square feet. A $6,000,000 capital renovation is currently underway at the property. Since its recent acquisition of -CMS Bank, the new bank now operates 15 retail branches in the area and has total assets of $1,250 billion.

Joseph D. Roberto, President and CEO of Putnam County Savings Bank said, “With the continued measured expansion of the Bank, we believe the timing is right to upgrade our administrative facilities.  The relocation to Strang Boulevard will enable the Bank to not only centralize its location but to also centralize all of its key departments under one roof with new state of the art technology. Northern Westchester County offered very few Class A alternatives that provided the right corporate identity with the requisite features for our employees.

The opportunity to create a brand new build-to-suit installation for our administrative headquarters, and the renovations and amenities GHP is bringing to Strang Boulevard, made our decision easy. The management and operation of the property is very attractive to us.  It is the right product to help the bank grow and better serve our customers.”  The new site will have approximately 65 bank employees. Kevin Dwyer of The Dwyer Agency represented the Bank.

GHP Office Realty purchased the three building, 220,000 square foot property in late 2014.

 

NEW JERSEY

NAI James E. Hanson announced the successful leasing of 6,000 square feet, at 701 Broadway in Westwood, New Jersey, to a franchisee of Pulse Fitness.

Sales Associate Jill Gordon, of NAI Hanson, marketed the space and managed the transaction on behalf of the industrial property’s owner, Robert Risman. The space includes 12-foot ceilings, an interior in excellent condition, visible signage and 30 parking spots.

Pulse will feature a juice bar, a full range of weights, state-of-the-art exercise equipment, private/ personal training and facilities for children’s fitness. The gym, which has strong local ties, will benefit from this central location in a corridor with almost no other national fitness brands.

The site is located along Route 115 (Broadway) in Westwood, between several Bergen County feeder roads, including Routes 502, 503 and 110. It is also situated in close proximity to the Garden State Parkway.

 

CONNECTICUT

Jon Angel, president of Angel Commercial LLC, a Southport based commercial real estate brokerage firm, announced the lease of 21,291 SF of Class A office space at 2 Corporate Drive, Shelton to Gama Aviation, INC.
Originally based in Stratford, Gama Aviation’s move to Shelton signifies their growth within the luxury private aviation industry. Located within Enterprise Corporate Park, 2 Corporate Drive is a premier class office building with a selection of on-site amenitities, some of which include; a putting green, fitness center, 200 seat auditorium with video conferencing, New York airport shuttles, several restaurants, basketball and tennis courts and a daycare center. Angel was the sole broker in the transaction.

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