Construction of retail development begins soon at tainted West Islip site.
A Long Island retail developer is preparing to start construction on a former manufacturing property that’s been plagued by pollution problems.
Designated as an environmental Superfund site more than 20 years ago, the West Islip property once occupied by the Dzus Fastener Company has been oozing nasty heavy metals and carcinogens such as cadmium, lead, chromium and cyanide into the soil under the 4.1-acre site at 425 Union Boulevard since the factory was built in 1938.
Continue reading “Brownfield Rebirth”
26 Davis Street, Watertown, CT
Roger Delisle of Island Associates, purchaser’s broker, along with Daniel de Sa’ of EXP Realty Advisors, seller’s broker, negotiated and closed the purchase and sale of the property located at 26 Davis St. The purchase price was $4.28 million. The 13,000 s/f building on 1.7 acres is occupied by CVS Pharmacy under the terms of a NNN ground lease with over 20 years of base term remaining. The aggregate rental income exceeds $5.6 million. The closing occurred in March and is the replacement property under a 1031 exchange.