Elm Global Logistics Signs Largest Lease on Long Island this Year
September 25, 2003
– ELM Global Logistics has signed the largest industrial/warehouse lease on Long Island this year, a 15 year transaction for 560,000 square feet on 30.5 acres at 50 Emjay Boulevard in Brentwood. ELM presently occupies 400,000 square feet at this site. It is renewing its lease for that space and taking the remaining 160,000 square feet at the site formerly occupied by the now bankrupt Allou Distributors. ELM plans to take over the new space as of September 1, 2003. This represents one of the largest industrial lease transactions ever completed on Long Island. Peter L. Curry, the Farrell Fritz real estate partner who represented ELM said that entering into this lease is a logical step in the growth of ELM, his client of fifteen years. ELM has expanded through a consistent, conservative strategy, always playing to the varied needs of its client base. While this transaction may seem an indication of explosive growth, it really is a carefully calibrated consolidation of operations to better match its workforce to its customers’ changing requirements.
With 15 lawyers in its real estate practice group, Farrell Fritz has substantial capacity to service the region’s real estate needs. Peter Curry has been involved with some of Long Island’s most notable transactions and he has developed substantial capability in the area of Industrial Development Agency financings, making many real estate transactions economically feasible.
About Farrell Fritz:
Farrell Fritz is one of the region’s largest full service law firms, and has earned a strong reputation in the Long Island business community by providing expertise in several areas of practice. Highly respected for its experience in many areas of law, Farrell Fritz handles legal matters in the areas of banking, commercial litigation, corporate, creditor’s rights and bankruptcy, employment, environmental, franchise and distribution, health care, municipal, land use and zoning, real estate, tax, tax certiorari, and trust and estates matters for a variety of corporations, institutions and individuals. The firm’s managing partner is Charles M. Strain.
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