Smithtown, NY According to Island Associates Real Estate Inc., the firm completed the following transactions:
Roger Delisle of Island Associates negotiated and closed the purchase and sale of the class A medical office building at 250 East Main St., Bay Shore for $7.028 million. The site contains a two-story medical office building of 11,335 s/f on one acre, and is across from Northwell’s Southside Hospital. The building is occupied by Northwell Health and affiliate physician groups. The seller was the original developer of the property. The purchaser purchased this property as a replacement property under a 1031 exchange.
Delisle negotiated and closed the purchase and sale of the Ford Automotive repair building located at 198 & 200 Main St., Islip for $850,000. The site contains two free-standing buildings containing 3,700 s/f. The Ford family owned and operated an automotive repair shop at the property for over 40 years. The purchaser owns several existing automotive repairs shops and will continue to use the location to service the auto repair needs of the surrounding area. The purchaser was represented by Island Associates.
Delisle negotiated the long-term lease of two acres at 425 Union Blvd., West Islip to 7-Eleven for a convenience market with gas. The convenience market is over 6,800 s/f. In addition, 7-Eleven has eight fueling stations at the site providing 16 pumps. 7-Eleven will be part of a redevelopment of the entire site, which will include a 4,500 s/f free standing restaurant building and over 8,400 s/f of additional retail space. Delisle represented both the landlord and tenant in the transaction.
Delisle negotiated a lease agreement with Knock Out Barber Shop for 2,320 s/f at the Wheeler Road Shopping Center in Central Islip. Both landlord and tenant were represented by Delisle.
Island Associates negotiated a new lease with Las Brasas Restaurant for 1,200 s/f at the BrentCity Shopping Center. Both landlord and tenant were represented by Island Associates.
Island Associates negotiated two lease extensions at 490 Wheeler Rd., Hauppauge. James Morgan extended his lease of 600 s/f, and Hirsch International extended the lease for their 2,000 s/f office. Both landlord and tenant were represented by Delisle.
Island Associates negotiated two 2,500 s/f lease agreements at 275 West Main St., Bay Shore. The 2,500 s/f end-cap space was leased for a new beer distribution business while the liquor store occupying the 2,500 s/f located next to the endcap negotiated a new long-term lease. The building will be undergoing renovations in the coming months including a brand-new façade. Both landlord and tenant were represented by Island Associates.