Scott Berfas, managing director of Newmark’s Melville office, restructured and extended Sonomed, Inc.’s 11,000-square-foot regional corporate headquarters office lease at 1979 Marcus Avenue in Lake Success, N.Y.
Following a thorough market and financial analysis, Berfas was able to structure a cost-saving transaction that enabled Sonomed to continue making Lake Success its home for a long period of time. “Sonomed ultimately determined that Western Nassau County is the optimal location for its business and employees and also credits the landlord for realizing the benefit of retaining one of its longstanding and creditworthy tenants in this challenging economic environment,” says Berfas.
Dan Ackerman represented the landlord, 1979 Marcus Avenue Associates, LLC in-house.
Sonomed, Inc. a subsidiary of Escalon Medical Corp., is the worldwide leader in ophthalmic ultrasound, with 30 years of experience helping ophthalmic professionals use ultrasound to measure and diagnose.
About Newmark
Newmark is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank operate from over 200 offices in established and emerging property markets on six continents. Last year, transactions were valued at more than $32 billion with annual revenues of over $811 million. With a combined staff of more than 6,300, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.