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.
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.VIEW ARTICLE
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.VIEW ARTICLE