Development On Atlantic Ave, Freeport NY Leased To Children Of America & Arby’s

Michelle Abramov, Albert Aranbaev, and Joe Mast have completed a closed property transaction involving a development located at 360-370 Atlantic Ave, Freeport NY. The property spans a total of 10,000 square feet, with 3,000 square feet on the ground floor and 7,000 square feet on the second floor, specifically utilized by Children of America for daycare services. In addition, there is a separate 2,100 square foot area leased by Arby's franchisee. The price per square foot for the Children of America space is $31.50, while Arby's pays a triple net rate of $50.

Summary of transaction details

• Property Type: Development
• Tenant: Children of America & Arby's (Franchisee)
• Address: 360-370 Atlantic Ave, Freeport NY
• Square Footage: 10,000 SF Total, 3K on Ground, 7K on 2nd Floor (@coachildcare) & 2,100 SF
• Price per Square Foot (COA): $31.50
• Price per Square Foot (Arby's): $50 NNN

The transaction involved a 15-year lease term with options for the tenants, securing a long-term commitment for both Children of America and Arby's franchisee. The deal was facilitated by the representatives of Michelle Abramov, Albert Aranbaev, and Joe Mast.