August 2017 Vol.9 Issue 11
Dear Friends ,

Last week our office had a small celebration to say goodbye to our summer intern, Kevin Topolovec. Kevin is majoring in business management at SUNY Binghamton, and will be bringing back some real-world business experience to his sophomore year. I am going to miss his technical skills with Excel and Google Mail, and a host of other talents!  

I really learned to appreciate Kevin's strengths three years ago, as I coached him to the rank of Eagle Scout. Nothing like hiring an Eagle Scout! All our young Eagles bring years of leadership training to the table, not to mention the field experience of an Eagle Scout service project. Last Sunday, I attended two Eagle Courts of Honor in my capacity as a District Advancement Chairman, Suffolk County Council, Boy Scouts of America. I am really proud of these young men, who are launching themselves into a world that sorely needs their leadership and energy. 

This month's article is all about options, and why you want to negotiate as many options as possible in a commercial lease or real estate contract (despite the likelihood that you may never exercise them.) It is especially relevant if you are currently negotiating a real estate transaction.

Oh, the possibilities!

David G. Hunt
 
Lease Options 
 by David Hunt
   
Q: 
Our company is negotiating a long-term lease for a new manufacturing facility. How important is an option to renew or purchase?   

A: The definition of an option is a provision in an agreement that gives one party the right, but not the obligation, to exercise a right of some kind. This is important to keep in mind when negotiating tenant options in a lease. A tenant option gives the tenant the right, but . ...
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PROPERTY HIGHLIGHT
  
353 Veterans Memorial Highway,
Commack, NY
   
  
35,000 Square Foot Building for Sale

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COMPANIES ON THE MOVE
  
Central Nassau Guidance has leased space at 245 Newtown Road, Plainview .
Hilo has leased 845 South First Street, Ronkonkoma.
Mortgage World has subleased space at 425 Broadhollow Road, Melville.
Vibleo Group has leased space at 80 13th Avenue, Ronkonkoma.
COMPARABLE SALES IN THE LAST 12 MONTHS

City  Address               Property Type  Size SF   Office SF Acres Total  Sold Price/SF  Sold Date 
Deer Park 71 East Industry Court
Industrial
47,050
2.36 $101.49
7/31/2017
Patchogue 501 North Ocean Avenue Office 87,544
8.0 $45.98 7/26/2017
Hicksville
210 Miller Place Industrial 50,000 3,500 2.5
$104.00
7/21/2017
Garden City
825 East Gate Boulevard
Office

81,396
3.38
$107.50
7/21/2017
Syosset
115 Eileen Way Office 20,000
2.11 $152.50
7/20/2017
Hempstead

510 South Franklin Street Office 5,465
.1 $58.19
7/19/2017


Commercial Real Estate
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HUNT provides specialized experience and expertise in the marketing and acquisition of corporate real estate. Unlike traditional real estate brokers, we represent our clients exclusively. 

HUNT- Solving Commercial Real Estate Issues Since 1973

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