March 2020 Vol.12 Issue 2
 
Dear Friends,

I write this from home, sequestered, as many of us are, from COVID-19. Circling the sun some 68 times since birth tends to bring wisdom and philosophical thinking. One truth I have come to understand is to always expect the unexpected. We have this illusion of control, only to discover that it is either illusory or temporary. Snoopy and Woodstock understand this wisdom innately. 



And here is the benefit of unexpected circumstances: It forces one to be resourceful and creative. When we do that, new and amazing strengths can emerge. Looking back on my life, I have recognized that most of my real breakthroughs and triumphs were a result of circumstantial stress. This is not to minimize the hardship that is being endured by many today, but merely to point out that the new emerges from the crumbling of the old. Let's see what new world emerges!

Oh, the possibilities!
 
David G. Hunt
Now is the Time to Sell
by David G. Hunt
strategic_journey.jpg
Q: Our company needs to expand out of a 20,000 square foot building we have owned for the last seven years. Do you have any recommendations on whether we should buy or lease larger quarters? Should we sell our present building?
 
A: Let me start by issuing a caveat: Your circumstances are individual and are probably best addressed by your CFO or accountant. In general, however, the commercial real estate market on Long Island today favors selling your existing real estate and leasing the replacement facility. Why is this so... 
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Property Highlight 

  34,000 Square Foot Industrial Building
FOR SALE
 
147 East Second Street, Mineola NY
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Companies on the Move
    
Progressive Pipeline purchased 6 Connor Lane, Deer Park.
SHS Auto Parts purchased 31 Brightside Ave, Central Islip.
JP Express purchased 131 Hoffman Avenue, Islandia.
Omntec Manufacturing purchased 2420 Pond Road, Ronkonkoma.
FW Webb Company purchased 34 Lamar Street, West Babylon.
Virsig has leased space at 95 Seaview Boulevard, Port Washington.
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Comparable Sales in the Past 12 Months

City  Address               Property Type  Size SF   Office SF Acres Total  Sold Price/SF  Sold Date 
Deer Park

145 Brook Avenue Industrial 11,340

1,134 1.54 $149.91 2/28/2020
Farmingdale

50 Engineers Lane Industrial 69,888 4,451 3.038 $131.64 2/26/2020
Huntington 1 Arnold Drive Industrial 125,000
8.53 $132.00 2/26/2020
Rockville Centre 36 Lincoln Avenue Office Medical 16,675 .38 $359.88 2/20/2020
Floral Park 170 Jericho Turnpike Industrial 19,370 .41 $116.16 2/14/2020
West Hempstead 151 Hempstead Turnpike Office 12,300 .31 $93.50 2/13/2020


Commercial Real Estate
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You have an attorney. You have an accountant. Now you can have a professional real estate advisor!

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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