Port Jefferson Station, NY The Crest Group LLC, headed by Enrico Scarda has announced within the past six months the following leases totaling over 60,000 s/f have been successfully executed. With the signing of these new leases the overall occupancy of the entire portfolio has never been higher. Total aggregate rent represents $1.6 million/year with an overall average of $25.50 per s/f which equates to $20 million added valuation to the portfolio.
“We are very fortunate to have a commercial mixed use portfolio that includes office, retail, medical, warehouse, self storage and industrial to cushion a downturn in any given segment,” said Scarda.
Aaron Smiles head of commercial leasing for Crest Group describes the last six months activity after the pandemic was announced as seeing pent up demand for commercial space building up. “People want to get back to work and collaborate in person with one another. After mandatory lock down for non-essential businesses there is a shift in the market with tenants working at home,” said Smiles.
Newly implemented precautions have been put in place by Crest to reduce tenants adversity to returning back to work. Special attention to daily office cleaning including disinfection of all offices/work stations and common areas with the addition to HEPA approved HVAC filtration systems are being utilized. “We are trying to incorporate precautions covering all aspects from frequently touched areas, air filtration systems and social distancing practices,” said Smiles.
Completed Transactions by Crest Group in 2020:
- 4,250 s/f to New World Technologies Inc. at 1393 Veterans Memorial Hwy., Hauppauge. Broker: Aaron Smiles, CRA LLC
- 1,940 s/f to Vanguard Medical LLC at 1747 Veterans Memorial Hwy., Islandia. Brokers: Brian Fleming, Realty Connect USA and Aaron Smiles, CRA LLC
- 12,840 s/f to Massachusetts Mutual Life Insurance Co. at 1393 Veterans Memorial Hwy., Hauppauge. Brokers: Robert Seidenberg, CBRE and Aaron Smiles, CRA LLC
- 5,778 s/f to USIC LLC at 1767 Veterans Memorial Hwy., Islandia. Brokers: Michael Herz, Vicus Partners and Aaron Smiles, CRA LLC
- 5,250 s/f to Foley, Smit, O’Boyle & Weisman at 1393 Veterans Memorial Hwy., Hauppauge. Brokers: Wayne Steinberg, Real Estate Strategies and Aaron Smiles, CRA LLC
- 3,000 s/f to Cyber-Lead Inc. at 1777 Veterans Memorial Hwy., Islandia. Brokers: Joe Sorbara, ACC Space and Aaron Smiles, CRA LLC
- 3,600 s/f to Life W.O.R.C. Inc. at 1767 Veterans Memorial Hwy Islandia. Brokers: Eric Launer and Peter Notaro, JLL and Aaron Smiles, CRA LLC
- 1,000 s/f to KCI Construction Group at 1797 Veterans Memorial Hwy., Islandia. Broker: Aaron Smiles, CRA LLC
- 15,750 s/f to Long Island Physicians Associates PLLC at 5316 Nesconset Hwy., Port Jefferson Station. Broker: Aaron Smiles, CRA LLC
- 5,500 s/f to North Shore Hematology – Oncology Assoc P.C. at 5316 Nesconset Hwy., Port Jefferson Station. Broker: Enrico Scarda, CRA LLC
- 2,000 s/f to Port Jefferson Pharmacy Inc. at Three Roads Shopping Plaza 1043 Route 112 Port Jefferson Station. Broker: Aaron Smiles, CRA LLC
- 2,000 s/f to R Lenny Plumbing & Heating at 1201 route 112 Port Jefferson Station. Broker: Aaron Smiles, CRA LLC
The Crest Group LLC has formed CRA LLC as its exclusive landlord representative for all its properties. CRA LLC will also handle third party advisory services for leasing/sales for other real estate owners. The new entity will be headed by Smiles NYS licensed real estate broker with offices located in Hauppauge, Long Island. The firm has hired Gary Pollakusky (Brookhaven IDA) and Alec Rebic as associates.
The Crest Group LLC commercial portfolio on Long Island includes:
- Crossroads North in Hauppauge, Long Island Exwy., exit 57N, totaling 200,000 s/f;
- Crossroads South in Islandia, Long Island Exwy., exit 57S, totaling 200,000 s/f;
- Three Roads Shopping Plaza in Port Jefferson Station, Rte. 112 and Canal Rd., totaling 65,000 s/f;
- 1201 Route 112 in Port Jefferson Station, totaling 48,000 s/f office/warehouse;
- West Babylon Industrial Park totaling 65,000 s/f;
- 5316 Nesconset Hwy., Port Jefferson Station totaling 20,000 s/f;
- Danfords Inn/Marina in Port Jefferson Village, N.Y.;
- Waters Edge (formerly Thatched Cottage) in Centerport, N.Y.;
- Waterview/The Club at Port Jefferson County Club in Port Jefferson, N.Y.;
- LA Fitness in Huntington, N.Y.;
- Quick Check in Commack, N.Y.
Original article from nyrej.com. View original article here.