SPACED OUT – Real estate matters on Long Island

As Seen in Long Island Business News August 7-13, 2009 By David Winzelberg

Ashlind brokers 536,000 SF in first half

Hauppauge-based Ashlind Properties reports it sold or leased 536,000 square feet of industrial space in the first half of 2009.

The first half included five sales totaling more than 104,000 square feet and six leases with totaling 400,000 square feet, according to Ashlind owner Richard Cohen.
First half leases in Hauppauge included 120,000 square feet at 900 Grand Blvd. subleased to Rubie’s Costume; 34,120 square feet at 1818 Pacific St. subleased to Fusion Auto Finance; 25,080 square feet at 100 Oser Ave. leased to Precare Corp.; and 46,000 square feet at LNK International at 60 Oser Ave.

Ashlind’s sales included a 31,500 square-foot building at 160 Oser Ave. in Hauppauge that Jerome Stevens Pharmaceuticals bought from Vincenza Properties for $3.75 million; a 20,000 square-foot building at 380 Rabro Dr. in Hauppauge that Reliance Communications bought from CP Industries for $1.9 million; and a 20,000 square-foot building at 195 Oser Ave. in Hauppauge that investor Kyu Teck Chung bought from Omega Displays for $2 million.

Cohen said that prices for Long Island industrial properties are down by nearly 30 percent from a year ago, but the market appears to have bottomed.

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