Newmark is pleased to announce the sale of 16 Colt Court, a 12,000-square-foot industrial manufacturing facility in Ronkonkoma, NY. Colt Properties, LLC, the seller, was represented by Daniel Gazzola, managing director of Newmark’s Long Island office in Melville, NY, along with Chuck Tabone, executive vice president and managing director, and Keith Kito, associate.
The team ultimately sold the property after juggling multiple bids. Representing the buyer 16 Colt Realty LLC was Niko Khetaguri, associate for Alliance Real Estate Corporation.
“It’s a fantastic facility for light manufacturing,” said Mr. Gazzola. “It also comes with history. The building was the home of Link Control Systems, Inc., a family business run by the Bowdens, a father-son team. While considering multiple bids, that one of the potential buyers turned out to be a father-son team as well was the icing on the cake. Passing the space from family to family was a nice finish to the transaction.”
Link Control Systems, Inc., was a manufacturer of control devices for a range of complex and large mechanical devices for drawbridges.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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