Ashlind Properties in several Industrial space transactions

As Seen in Long Island Business News April 30, 2004 By NICK ANASTASI Staff Writer

Ashlind Properties was involved in a group of industrial transactions amounting to more than 130,000 square feet of commercial space.

Those transactions included getting Century Technology released from its lease obligation at 350 Wireless Road, a 70,000 square-foot facility at the Hauppauge Industrial Park.

That opened the door for Lanco Corp. to follow through on its plans to acquire the 350 Wireless site for $6.5 million, where it plans to add another 50,000 square feet of space. It acquired the building from real estate investment trust W.P. Carey in a transaction that closed earlier this month, according to Ashlind President Richard Cohen.

In September, Lanco was approved for a $9.75 million economic incentive package by the Suffolk County Industrial Development Agency for the acquisition and expansion effort. The move to the 350 Wireless site will allow Lanco to consolidate and expand its operations.

Century has since relocated its operations to a similar-size facility on Lakeland Avenue in Ronkonkoma.

At 400 Wireless, LNK International, a pharmaceutical manufacturing company, has leased 60,000 square feet from U.S. Luggage, which has subcontracted its warehouse operations to the West Coast last year.

And there’s more real estate news out of Hauppauge news. At 115 Commerce Drive, Kitchen Depot has leased 37,000 square feet, and Cougar Trucking, currently in Farmingdale, has leased 30,000 square feet at 50 Oser Ave. The Oser Avenue building is owned by Rechler Equity Partners.

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