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Tag: property acquisition

  • Local investors acquire retail properties in Virginia and Florida | Long Island Business News

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    Two area investors have acquired properties in Virginia and Florida in deals brokered by a Long Island firm. 

    Seaford-based Petrakis Properties, a investment firm headed by Peter Petrakis, acquired a retail strip center in , Va. 

    Petrakis purchased the 5,400-square-foot building on .67 acres at 1877 E. Ocean View Ave. for $1.3 million. 

    The three-store strip is anchored by a , with a lease that expires in Aug. 2026. The other tenants are East Tide CBD and Ocean Coin Laundry. 

    The sale price equates to a 6.75 percent cap rate. 

    Adam Silber, principal of Plainview-based Silber represented the buyer, while his Silber Investment Properties colleague Chris Madlon represented the Norfolk-based seller, G&G Cape View LLC, in the sales transaction. 

    Chili’s restaurant at 940 U.S. Highway 1 in . / Courtesy of Silber Investment Properties

    In the second deal, FMJ Properties LLC, an affiliate of a New York-based commercial real estate investor, acquired a restaurant property in Florida. 

    FMJ purchased the 5,688-square-foot restaurant building on 1.91 acres at 940 U.S. Highway 1 in Vero Beach for $2.55 million. 

    The property is triple-net leased to a restaurant, which recently extended its lease for 10 years. The lease is backed by publicly traded Chili’s owner Brinker International, which has over 1,600 locations, according to a broker on the deal. 

    The sale price equates to a 5.7 percent cap rate. 

    Nicolas Anzalone of Silber Investment Properties represented the buyer, while his Silber Investment Properties colleague Madlon represented the seller, 940 US 1 LLC, in the Vero Beach sales transaction. 


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    David Winzelberg

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  • Daifa Food buys Deer Park industrial property | Long Island Business News

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    Daifa Food Inc. expands on Long Island with a $7.4M purchase of a 29,500-sq-ft Deer Park industrial property at 28 Brandywine Drive.

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    David Winzelberg

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  • Reiffman Group embarks on $8.2M Plainview medical office project | Long Island Business News

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    THE BLUEPRINT:

    • acquired a 33,000-sq-ft medical office building in Plainview for $6.7M

    • $1.5M planned to modernize and reposition facility

    • Upgrades include new facade, ADA access, interiors, and landscaping

    • Part of a $100M initiative across NY metro area

     

    Rockville Centre-based Reiffman Group has acquired a property with plans for major improvements. 

    The company purchased a 33,000-square-foot building on 2 acres at 700 Old Country Road for $6.7 million. Reiffman Group will invest another $1.5 million in a capital improvement program to modernize and reposition the facility aimed at attracting regional healthcare providers, according to the company. The property, which was called Central Park Plaza Medical Arts Center, is currently about 80 percent occupied. 

    The redevelopment project will include a modernized facade with metal panel accents and upgraded glazing; redesigned entryways with new canopies and lighting; and new interiors and common areas with new flooring, wall coverings, lighting, artwork and reimagined lobby and waiting area. 

    Rendering of 700 Old Country Road redevelopment project. / Courtesy of Reiffman Group

    The improvements will also add energy-efficient windows and doors; refreshed landscaping with new plantings, paver walkways and upgraded site lighting; and updated ADA-compliant access points and wayfinding.  

    “This redevelopment reflects our continued commitment to enhancing the quality and design of healthcare real estate across Long Island,” said Ross Reiffman, president and CEO of Reiffman Group. “700 Old Country Road will serve as a best-in-class medical facility designed to meet the operational needs of premier healthcare providers while delivering a superior patient experience.” 

    The Plainview project is part of Reiffman Group’s ongoing $100 million healthcare real estate initiative across the New York metropolitan area. Earlier this year the company acquired a 20,000-square-foot building on 1.45 acres at 99 Smithtown Bypass for $5.3 million and invested an additional $2.5 million to transform the property for use as a diagnostic imaging center.  

    The Hauppauge building, formerly owned and occupied by Capital One Bank, was purchased by Zwanger-Pesiri Radiology in 2023, but the imaging firm didn’t pursue plans for redevelopment. Instead, Zwanger-Pesiri sold the property to Reiffman Group, signed a 15-year lease, and opened the facility last month. 

    Founded in 2023 by Ross Reiffman in collaboration with Mitchell Reiffman of ROCA Management, Reiffman Group specializes in healthcare-focused real estate investment and development. 

    Tom Bigansky of North Village Realty represented Reiffman Group, while Ron Koenigsberg of American Investment Properties represented the seller, Reservoir Associates, in the Plainview sales transaction. 

    Debt financing was arranged by Matthew Tarpley, Michael Fioravanti and Ravi Patel of Fifth Third Securities’ Real Estate Investment Banking team. 

    Reiffman Group is continuing to seek strategic acquisitions of value-add properties and development opportunities in the area’s healthcare real estate market. 


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    David Winzelberg

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  • Global REIT buying six Long Island senior housing properties | Long Island Business News

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    Inked: Long Island commercial real estate sales and leases

    Recent Long Island commercial deals include property sales in Oceanside, Babylon, Riverhead, and North Babylon[…]

    August 21, 2025

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    David Winzelberg

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