Insignia/ESG represented West Babylon-based seller Stellex Monitor Aerospace in the transaction, and I/ESG has also been retained to market the planned facility. Insignia Senior Managing Director Ed Fitzsimons and Associate Dan Oliver are handling the assignment.
"This is the jewel of Babylon," Fitzsimons says. "It is one of the last vacant available parcels of land in the New Horizons P.I.P." Preliminary studies and architectural work have already been done for the property, he adds. The purchase price of the land has not been disclosed.
The industrial park is located less than a mile from the Southern State Parkway, at route 109. Within close proximity to the Route 110 Corridor and Republic Airport, it is near the Nassau/Suffolk border, convenient to much of the Island's population. "Because of its campus-like setting, it personifies a modern corporate image," says Oliver.
According to Winona Realty president Tim Heise, initial discussions with the Town of Babylon Industrial Development Agency indicate that the town is prepared to consider offering a good deal in the way of incentives to prospective tenants.
Insignia/ESG's national industrial services group including its affiliates leased and sold more than 20 million square feet in 2001. On behalf of owners and corporate clients, Insignia/ESG's industrial services group currently markets and leases more than 15 million square feet of industrial properties Internationally.
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