Press

MILVADO IN THE NEWS

Our large portfolio of high profile properties and our expertise in the region are widely recognized and growing.  Here are some examples of noteworthy transactions that are making headlines and Milvado news.

49,500 Square Feet of New Leases in Q1 2018 | 4.19.18

On Heels of Rebranding, Long Island’s Leading Industrial Landlord Attracts Nine New Tenants and Secures Four Renewals and Expansions

Long Island, NY (April 18, 2018) – Syosset-based Milvado Property Group, a leading owner and manager of industrial, office, mixed-use, and R&D properties in Nassau and Suffolk counties, today announced it has signed nine new leases in the first quarter of 2018, totaling approximately 49,500 square feet. Over the same time period, the company has secured four lease renewals and expansions totaling approximately 24,900 square feet, bringing the total number of leases signed in Q1 to 74,400 sq. ft.

This leasing traction coincides with the company’s recent rebranding, introduction of a new corporate identity, and launch of a new website. These developments are part of a slew of positive changes that have occurred under a management team, in place since mid-2016, including the implementation of a $14 million capital and tenant improvement program throughout the company’s 3.6-million-square-foot, 38-building portfolio.

“This volume of leases is indicative of the progress we have made at Milvado Property Group since our rebranding earlier this year,” said JoAnn Stock, Director of Leasing. “We are delighted that, whether large or small, companies seeking a space on Long Island are finding a dynamic forward-thinking partner in Milvado, whose team has unparalleled market knowledge and is here to help our current and potential tenants every step of the way.”

New tenants throughout Milvado’s portfolio include:

  • Maryland Coin and Collectables, which signed on for 2,300 square feet of office space at 200 13th Avenue in Ronkonkoma. Brian McGuire of Coldwell Banker Commercial Island Corporate Services represented the tenant.
  • Chem-Master International, Inc., which signed on for 2,800 square feet at 275 Marcus Boulevard, a multi-tenant flex building, within the Hauppauge Industrial Park. Brian McGuire of Coldwell Banker Commercial Island Corporate Services represented the tenant.
  • Atlantic Essentials, which signed on for 5,841 square feet, also at 275 Marcus Boulevard. Doug Donatelli of Metro Realty represented the tenant.
  • Champion Controls, which signed on for 4,140 square feet at 33 Compac Loop, part of the Equi-Park industrial park in Ronkonkoma. Brian McGuire of Coldwell Banker Commercial Island Corporate Services represented the tenant.
  • Visual ID, which signed on for 10,700 square feet at 600 West John Street, a 211,000-square foot, industrial manufacturing, warehouse, and office building in Hicksville. Matt Balzano of Schacker Realty represented the tenant.
  • S&K Distribution, which signed on for 10,200 square feet, also at 600 West John Street. Brian Cleva of Cleva Philips represented the tenant.
  • Reading Town, which signed on for 2,194 square feet at 6851 Jericho Turnpike, two-story, multi-tenant office building in Syosset. Brandon Yoon of Coach Realty represented the tenant.
  • Lieber Brokers, which signed on for 4,411 square feet, also at 6851 Jericho Turnpike. Larry Schusheim of LMS Corporate Realty represented the tenant.
  • Technopath Northwell Health, which signed on for 6,900 square feet at 99 Lafayette Drive, multi-tenant industrial and office building, in Syosset. Steve Epstein of United Realty represented the tenant.

“The size and diversity of Milvado’s portfolio means that we offer tenants an array of options to meet all of their commercial real estate needs, whether that’s logistics, R&D, retail, office, or a combination of those,” said Gus Gollisz, Director of Asset Management. “As a result, our team has built strong tenant relationships with many Long Island businesses that in turn work with some of the largest companies in the world. Furthermore, we realize those relationships wouldn’t be possible without our local community of brokers, for which we are very grateful.”

Milvado’s portfolio is strategically located adjacent to a vast network of roadways, including the Long Island Expressway, Northern State and Wantagh Parkways, the Southern State Parkway, and Routes 135, 106 and 107, with close proximity to the Long Island Railroad.

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LONG ISLAND’S LEADING INDUSTRIAL LANDLORD REBRANDS AS MILVADO PROPERTY GROUP | 2.9.18

Name Change Follows String of Leasing Successes, Capital Improvements Throughout the Portfolio Implemented by New Management Team

Long Island, NY (February 8, 2018) – Syosset-based Long Island Industrial, a leading owner and manager of industrial, office, mixed-use, and R&D properties in Nassau and Suffolk counties, today announced it has rebranded as Milvado Property Group. As part of this rebranding effort, the company has launched a new website and introduced a new corporate identity.

The rebranding coincides with positive changes already underway under a new management team, concurrent with an ownership structure change. These include a string of leasing successes and capital improvements throughout the company’s 3.6-million-square-foot, 38-building portfolio.

In the last 18 months, new tenants have leased over 400,000 square feet throughout Milvado’s portfolio. Over that same time period, renewals and expansions accounted for nearly 900,000 square feet of lease signings.

New management, in place since mid-2016 and now operating under the Milvado Property Group name, has invested over $14 million in capital infrastructure and tenant improvement projects.

“We adopted the name Milvado, which signifies being in a league of one’s own, to communicate our company-wide, singular goal: to provide an unparalleled level of services to industrial tenants on Long Island,” said Gus Gollisz, Director of Asset Management at Milvado Property Group. “Whether large or small, companies seeking a space on Long Island will find a dynamic forward-thinking partner in Milvado, whose management team has unparalleled market knowledge and is here to help our current and potential tenants every step of the way.”

“The size and diversity of Milvado’s portfolio means that we offer tenants an array of options to meet all of their commercial real estate needs, whether that’s logistics, R&D, retail, office, or a combination of those,” Gollisz added. “As a result, our team has built strong tenant relationships with many Long Island businesses that in turn work with some of the largest companies in the world.”

Equally important, Milvado’s portfolio is strategically located adjacent to a vast network of roadways, including the Long Island Expressway, Northern State and Wantagh Parkways, the Southern State Parkway, and Routes 135, 106 and 107, with close proximity to the Long Island Railroad.

To learn more about Milvado Property Group and available leasing opportunities please contact JoAnn Stock, Director of Leasing, at 516-364-5000 or visit Milvado.com.

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LI portfolio owner buys out partner
for $135M | 2.6.18

Long Island Business News – An owner of one of the area’s largest industrial real estate portfolios has purchased its partner’s stake for $135 million.

Cammeby’s International Group, a Manhattan-based real estate development and investment firm controlled by Rubin “Ruby” Schron, bought out its joint venture partner FBE Limited, controlled by Abraham Fruchthandler, which had a 50 percent interest in the 3.6 million, 38-building portfolio spread throughout Nassau and Suffolk counties, according to a statement from Cushman & Wakefield.

The portfolio, which had been managed by Syosset-based Long Island Industrial Management, will now be managed by a new firm called Milvado Property Group.

The Cammeby’s portfolio, which is nearly 90 percent occupied, includes a mix of industrial, office and R&D properties developed between 1955 and 2000. Eight of the properties are located in Ronkonkoma, while six are in Hicksville, four in Farmingdale and three each in Hauppauge and Syosset. Others are in Glen Head, Plainview, Port Washington, Deer Park, Bay Shore and Yaphank.The portfolio, which had been managed by Syosset-based Long Island Industrial Management, will now be managed by a new firm called Milvado Property Group.

A Cushman & Wakefield team of Gary Gabriel, Andrew Merin, David Bernhaut, Kyle Schmidt, Brian Whitmer and Stephen Palmese, provided property valuation services used in the deal.

“The buildings all are well-located for last-mile and e-commerce distribution capabilities throughout Long Island and the five boroughs of New York City,” Schmidt said in the statement.

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