Brokers, developers honored at ABLI/CIBS event

CIBS Co-President Ted Stratigos, CBRE Vice President Matt Manoogian, CBRE Senior Vice President Paul Leone, CBRE Senior Vice President Martin Lomazow and CIBS Co-Present David Pennetta. / Courtesy of CIBS-LI

A team of commercial real estate brokers and a Long Island development firm were recognized for outstanding achievements by the Association for a Better Long Island and the Commercial Industrial Brokers Society of Long Island at their joint event at the Heritage Club in Bethpage on Wednesday. 

The CBRE team of Paul Leone, Martin Lomazow and Matt Manoogian earned the 2022 Most Ingenious Deal of the Year award for their work on the Baylis 495 Business Park in Melville. The project, developed by Phoenix-based Creation Equity, is a 103,500 square-foot warehouse on an 8.18-acre site at 125 Baylis Road that replaced an office building that had previously occupied the property. 

The CBRE team signed a tenant, Keurig Dr. Pepper to the new building in August 2022. The company relocated from an adjacent building it had been leasing at 135 Baylis Road. 

“This deal was truly a testament to teamwork. It was essential that we set this property apart from the competition and leverage its strengths,” Leone said. “Together, we were able to accomplish that and reach a mutually beneficial agreement for both the tenant and the landlord. We are grateful to CIBS and ABLI for this tremendous honor.” 

In another award presentation, Plainview-based Rechler Equity Partners earned the 2022 Developer of the Year for its work on restoring the Canoe Place Inn and developing the Boathouses in Hampton Bays. 

“This award is a testament to the hard work and collaboration our team, our partners and the community put into restoring the Canoe Place Inn while also accommodating for present day aesthetic, and amenities,” said Mitchell Rechler, co-managing partner of Rechler Equity. “We are grateful for the opportunity to work alongside the Town of Southampton and the Hampton Bay’s residents whose endless passion for their community is remarkable.  We feel this development’s design pays homage to the region’s rich history and seamlessly connects the past and present. Thank you to ABLI and CIBS for acknowledging our work.” 

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