"Our previous lab was somewhat overcrowded; now there is room for growth and clients will be able to see that we have ample capacity to handle the increased workload that they are contracting to us," says ICON president Eddie Caffrey.

CB Richard Ellis of Long Island arranged the $22-million sale of an 8.9-acre parcel zoned for a Continuing Care Retirement Community on Fairway Drive and West Shore Road in Port Washington. The local CBRE team of Edward Fitzsimons and Daniel Oliver, Bruce Gibson, from the firm's Senior Housing Services Group in Miami, and Peter Stevens, from its Philadelphia operations negotiated the sale on behalf of the seller, CSFB 1998-P1 West Shore LLC. The buyer, Amsterdam House CCRC LLC was self represented. "The $2.47 million per acre paid for the site is indicative of the allure of such a prominent piece of land in one of the country's most desirable locations." Fitzsimons notes.

Spence Hill Associates arranged $5 million in construction and permanent financing for Miller Place Commons. The property is an existing 19,000 sf shopping center that is being expanded via construction of an 11,000-sf, stand-alone CVS and a 2,000-sf Suffolk County Bank branch. Completion of construction is scheduled for the summer 2004. The site also features approximately four acres of additional land for future development.