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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.

Milvado continues its growth with the $18.7 million purchase of Two Syosset office buildings | 7.23.19

Milvado Property Group takes ownership of an additional 220,000 plus square feet.

Milvado Property Group, today announced that it has acquired 6801 and 6901 Jericho Turnpike in Syosset with a combined purchase price of $18.7 million.

The two office buildings, totaling 224,309 square feet, are located on Jericho Turnpike, Syosset in Nassau County, Long Island. The buildings are located at the convergence of the Long Island Expressway, Northern State Parkway and Seaford-Oyster Bay Expressway, providing unprecedented east-west and north-south access to Long Island destinations and to the Five Boroughs of New York City. In addition, the property is located one mile from the Syosset LIRR station, and less than 30 minutes from JFK, LaGuardia, and MacArthur Airports.

“These are two superior properties that belong in our portfolio,” said David Hercman, Director of Asset Management for Milvado. “They are centrally located to major highways and within easy reach of the Long Island Railroad, making these buildings very attractive to current and future tenants.”

“From a far broader strategic standpoint, this investment reflects a significant economic commitment to the region based on our belief that Long Island has a strong and vibrant future,” continued Mr. Hercman. “A $1.7 billion investment in the LIRR Expansion project, millions being spent on bridge and road repairs, and new rental housing starts for a new generation of Long Islanders suggest that the region is prepared to meet its various challenges. That means we also need to provide modern, state-of-the-art working space to ensure continued job growth and additional investment.”

The two buildings purchased by Milvado benefit from their proximity to communities that offer exceptional residences and top rated public schools, numerous recreational and retail opportunities as well as national respected colleges and universities. Within a five mile radius of the property, the median household income of $171,091 is 17.5% higher than Nassau County’s average.

“These specific acquisitions reflect Milvado’s approach that calls for locations that will enable our tenants to maximize their productivity, strengthen their bottom line, have easy access to their markets and take advantage of the quality of life offered by the surrounding community,” continued Hercman. “We will continue to add to our Long Island portfolio when we see similar kinds of value.”

The sale was brokered by Cushman and Wakefield’s Gary Gabriel and his team,  David Bernhaut, Andrew MacDonald, and Phil D’Avanzo.

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MILVADO SIGNS NINE LEASES TOTALLING 54,082 SQUARE FEET AS THE FIRST QUARTER OF 2019 ENDS | 4.11.19

Milvado Property Group ended the first quarter of the year on a high note by signing in the past 60 days nine new and renewal leases totaling 54,082 square feet at properties within its massive Long Island industrial portfolio.

Combined with the 51,431 square feet of leases signed since the beginning of 2019, Milvado’s total square footage leased in the first quarter comes to 105,513 square feet.

“We don’t see this buoyant level of leasing activity abating as the year progresses,” said David Hercman, director of asset management, Milvado Property Group, “because the existing inventory of industrial space simply cannot accommodate the continuing demand from e-commerce retailers to warehouse consumer products.”

The majority of the 54,082 square feet (26,514 square feet) was leased in Ronkonkoma; 18,468 square feet was negotiated in Syosset and 9,100 square feet in Huntington Station.  Details of the deals are as follows: 

Suffolk County:

90 13th Avenue
Alternate Packaging renewed 11,084 square feet at 90 13th Ave.  in Ronkonkoma; the landlord negotiated the renewal in-house; 

151-171 East 2nd Avenue
Master Mechanical Corp. signed a new lease for 9,100 square feet at 151-171 East 2nd Avenue in Huntington Station; Desmond Mullins, Industry One Realty, represented the tenant, while the landlord acted on its own behalf in-house; 

33 Comac Loop
Optimal Corporate Consulting signed a new lease for 810 Square Feet at 33 Comac Loop in Ronkonkoma; Ed Pidgeon of Coldwell Banker, represented the tenant, while the landlord acted on its own behalf in-house;

Bi-County Distributors, Inc. renewed 4,000 square feet at this property; the landlord and Tenant were represented in-house;

101-125 Comac Street
Vibleo Group Inc. signed a new lease for 9,785 at 101-125 Comac Street in Ronkonkoma; Richie Cohen of Ashlind Properties, represented the tenant, while the landlord acted on its own behalf in-house;

200 13th Avenue
Diversified Dental Sales & Service Inc. signed a new lease for 1,050 square feet in Ronkonkoma; the landlord represented both the tenant and itself in-house.

Nassau County:

6851 Jericho Turnpike
Elmo USA Corp signed a new 2,666-square-foot lease at 6851 Jericho Turnpike in Syosset; Justin Maiorano, Colliers International represented the tenant, while the landlord acted on its own behalf in-house; 

575 Underhill Blvd.
Finao Online LLC signed a new 15,000-square-foot lease at this property; the landlord negotiated the deal in-house;
Doreen Jewelry Inc. renewed its 802-square-foot lease at 575 Underhill Blvd. in Syosset; the landlord negotiated the transaction in-house.

 

See Related Articles:

Milvado Ends Q1 with 9 Leases in Nassau and Suffolk

https://newyork.citybizlist.com/article/542717/milvado-signs-nine-leases-totaling-54082-sf-as-the-first-quarter-of-2019-ends

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NEWSDAY RENEWS 38,600 SQUARE FEET AT 360 SMITH STREET IN FARMINGDALE | 3.6.19

Newsday has renewed its 38,600-square-foot lease at 360 Smith Street, where it has resided for 20 years.

“We are delighted to maintain our long standing relationship with Newsday,” said David Hercman, director of asset management for Milvado. “Newsday is an amazing tenant, its company is crucial for news delivery throughout Long Island, and we are pleased to be able to accommodate their residency for the future.”

Frank Pagano of Avison Young represented Newsday, while the landlord was represented in-house.

360 Smith Street is a 60,000-square-foot multi-tenanted property featuring ample parking, offering direct access to the Long Island expressway and Route 110 and multiple additional transportation routes.

 

SEE RELATED ARTICLES:

Long Island Cheat Sheet: Mineola multifamily complex trades for $150M, JLL scales bank Ronkonkoma arena plan… & more

https://newyork.citybizlist.com/article/535036/newsday-renews-38600-sf-at-360-smith-street-in-farmingdale

https://www.globest.com/2019/03/06/newsday-renews-38600-sf-in-long-island-ny/?slreturn=20190212144615

Newsday renews Farmingdale lease

 

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MILVADO INKS 9,100-SQUARE FOOT LEASE WITH MASTER MECHANICAL CORP. IN HUNTINGTON | 2.13.19

Master Mechanical Corporation, major air conditioning/heating/plumbing contractors, signed a new 9,100-square-foot lease at 163 East 2nd Street in Huntington, New York.

Desmond Mullins of Industry One acted on behalf of the tenant, while Milvado was represented in-house.

“Leasing velocity continues to be steady and strong into February,” said David Hercman, regional director, Milvado Property Group, who added that in January Milvado announced new leases and renewals totaling more than 51,000 square feet, signaling unabated demand for industrial spaces on Long Island.

 

See Article on CityBizList

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Milvado Director Weighs In With Business Leaders Around Long Island | 1.4.19

As 2018 comes to a close, it is clear that Long Island had a big year.

The Needs of E-commerce Transforming Milvado Property Group’s Hicksville Property | 1.8.19

Plans underway to rebuild 230 Duffy to meet the demands of 21st Century e-commerce logistics

Long Island, NY (January 8, 2019) – In a move that anticipates the need to support regional growth of e- commerce, Milvado Property Group, a leading owner and manager of industrial, office, mixed-use, and R&D properties across Long Island, today announced plans to renovate, modernize and heighten their existing industrial property at 230 Duffy Avenue, Hicksville.

“The arrival of Amazon in Queens only serves to underscore the role of e-commerce in our economy, here and across the nation. In anticipation of meeting the logistic needs of this sector, Milvado is positioning itself with a multimillion dollar investment to improve our Duffy Avenue property to ensure we are able to meet the needs of those companies that will support Amazon’s emerging role in New York,” stated David Hercman, Milvado’s Regional Director.

Mr. Hercman observed that the challenge is to reinvent the 125,000 square foot building to meet current and future industrial demands by increasing its heights.  “For example, the current roof is 14 feet. It needs to be raised fifty feet as we need fifty foot ceilings to address the needs of clients in a digital on-demand economy.  Column spacing will need to be increased to a footprint of 20 feet by 40 feet so that bay spacing can be expanded and improved. We also plan to create additional loading docks and maintaining industrial grade power into the building to ensure it can support the logistics mission the building will assume.”

Communicating with the community

Milvado executives acknowledged the changes in the building’s vertical footprint can be done under existing Town of Oyster Bay zoning codes and “as of right.”

To eliminate any potential concerns about building occupants parking on adjacent residential streets ample onsite parking will be included in the project’s site plan. In addition, given the location of the building within easy walking distance to the Hicksville Long Island Rail Road station Milvado executives believe a number of employees will arrive by train.

Mr. Hercman said engineering innovations will allow the building to be reinvented for the emerging Amazon world through a cost effective approach that creates a taller industrial building while minimizing potential construction impacts on nearby homes and leaving “as is” its current property footprint. “We recognize we have a responsibility to the residential neighborhood to our south and we will be reaching out to community leaders and civic groups to brief them on our plans,” he explained.

As part of a deliberate strategy to meet the needs of a regional economy, the 230 Duffy location is not unique to Milvado’s portfolio as they have deliberately sought to own and manage space adjacent to Long Island’s major roadways. Their properties can be found near the Long Island Expressway, Northern and Southern State and Wantagh Parkways, and Route 135, and in the case of its Hicksville parcels, within close proximity to the Long Island Rail Road and Routes 106/107.

 

See Related Articles:

 

Milvado plans major renovation of Hicksville building

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Milvado closes on 470,000 sf in last half of 2018 | 1.24.19

Milvado Property Group announced 30 lease deals during the last two quarters of 2018 totaling 474,578 s/f. The transactions comprised a combination of new tenant leases and renewals.

Milvado Property Group Signs JB Prince to 21,000-SF Warehouse Lease in Plainview on Long Island | 6.27.18

JB Prince is a Top Purveyor of Professional Culinary Equipment and Restaurant Supplies

Long Island, NY (June 27, 2018) – Milvado Property Group, a leading owner and manager of industrial, office, mixed-use, and R&D properties in Nassau and Suffolk counties, today announced a 21,000 lease with JB Prince, one of the world’s top purveyors of professional culinary equipment, for space at 79 Express Street in Plainview, NY.

“We are pleased to see that world-class companies like JB Prince are able to turn to Milvado Property Group to meet their needs,” said JoAnn Stock, Director of Leasing at Milvado Property Group.

79 Express Street, in Plainview, NY, is a 72,000-square-foot, industrial manufacturing multi-tenant building that sits on 4.7 acres and is in close proximity to the Long Island Expressway, one mile East 46S.

JB Prince was represented by Tom DiMicelli of JLL and Milvado was represented by David Hercman in-house.

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.

 

See Related Articles:

Milvado Property Group Signs JB Prince to 21,000 SF Industrial Lease on Long Island

Inked: Recent LI real estate deals

 

 

 

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Milvado Property Group Signs Peloton to 13,800-SF Lease in Syosset on Long Island | 6.11.18

Fitness Tech Company Sought Warehouse Space to Quickly Meet Demand from Members
In Nassau and Suffolk Counties

Long Island, NY (June 11, 2018) – Milvado Property Group, a leading owner and manager of industrial, office, mixed-use, and R&D properties in Nassau and Suffolk counties, today announced a 13,800 lease with Peloton, the technology company that revolutionized the fitness industry with its category-creating indoor cycling bike and its recently announced Peloton Tread, at Milvado’s warehouse and office building at 99 Lafayette Avenue in central Syosset, NY.

To date, Peloton has nearly one million Members, comprising bike owners, iOS app users and in-studio riders, and will be adding millions more in the coming years with the addition of the Peloton Tread and the announcement of global expansion. Through Peloton’s innovative technology, Members are able to participate in both live and on-demand classes led by elite instructors from the convenience of their own homes.

“Peloton’s dedicated and passionate community has seen an exponential increase of Members based on Long Island” said Jamie Beck, Vice President, National Field Services at Peloton. “This warehouse space will help us successfully support the increased delivery needs in this vicinity, further enabling us to meet the high quality and customer service standards of Peloton that our Members expect.”

99 Lafayette Drive is a 220,000-square-foot, multi-tenant industrial and office building situated on 11 acres. The building features ceiling height up to 24’, ample parking and is strategically positioned in a thriving business community with a well-educated work force, adjacent to lodging and shopping. A prime Nassau County location, the property is situated off of Jericho Turnpike between Routes 135 and 106-107 providing easy access to all major highways and is in close proximity to the Long Island Railroad (Syosset Station) as well as North Shore LIJ hospital.

“We are delighted that forward-thinking and dynamic companies like Peloton, who need space on Long Island, are finding an able and reliable partner in Milvado,” said JoAnn Stock, Director of Leasing at Milvado Property Group. “We have been working hard to meet the space needs of companies large and small with the implementation of our very robust capital and tenant improvement program planned for throughout our 3.6-million-square-foot, 38-building portfolio.”

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.

Peloton was represented by Paul Leone of CBRE and Milvado was represented by David Hercman in-house.

About Peloton

Founded in 2012, Peloton is revolutionizing the fitness industry by merging high-design with modern technology to provide access to live and on-demand fitness group classes led by elite NYC instructors. With instant access to classes, performance tracking metrics and a motivating real-time leaderboard, Peloton is changing the way people get fit through a comprehensive and socially connected-experience that makes every workout both efficient and addictive. Peloton is sold online and in a growing number of showrooms across the US and, starting later this year, the UK and Canada. For more information, visit www.onepeloton.com.

About Milvado Property Group

Syosset-based Milvado Property Group is a leading owner and manager of industrial, office, mixed-use, and R&D properties in Nassau and Suffolk counties. The company’s portfolio spans 3.6 million square feet across 38 buildings. Top businesses on Long Island, regardless of size or stage of growth, have come to count on Milvado for their commercial real estate needs.

 

See Related Articles:

https://www.newsday.com/business/peloton-distribution-center-li-1.19138312

https://www.connect.media/peloton-rides-into-warehouse-space-in-milvado-portfolio/

 

 

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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.

 

SEE RELATED ARTICLES:

https://nyrej.com/milvado-property-group-signs-49-500-s-f-in-new-leases-for-q1-across-its-long-island-portfolio

https://libn.com/2018/05/22/inked-recent-li-real-estate-deals-85

http://rew-online.com/2018/04/26

 

 

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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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