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Bethpage, NY
Cook, Hall & Hyde, Inc. (Cook, Hall & Hyde, Inc., Bethpage, NY; Plainview,
NY; East Hampton, NY and Fair Lawn, NJ), a leading provider of commercial
and personal insurance, employee benefits, and risk advisory services,
announced today that the firm will be relocating its corporate office on
Stewart Avenue in Bethpage and its Personal Service Center on East Bethpage
Road in Plainview into new and expanded space located at 40 Marcus Drive in
Melville, NY. The announcement was made by Cook, Hall & Hyde, Inc.’s Chief
Financial Officer Marc J.Fishstein, who noted a few primary reasons for the
relocation and consolidation decision.
According to Mr. Fishstein, “The lease on our Bethpage space is due to
expire in November 2006. That fact, coupled with our goal to consolidate our
Bethpage and Plainview operations into one central location, drove our
decision to seek new and expanded facilities. As the center of Long Island,
the Route 110 corridor was an ideal location. It affords convenience for
both our employees and clients and gives us the ability to increase staffing
in response to our growing customer base. In addition to accommodating our
long-term growth requirements, the new space will enable us to continue to
pursue acquisition opportunities.”
He added, “The property is a Class A building and one which effectively
reflects the Cook, Hall & Hyde, Inc. brand and corporate identity.”
Cook, Hall & Hyde, Inc. will be occupying 20,000 square feet in the building
which is owned by 50 Republic Road LLP (Great Neck, NY). In addition to
housing existing employees the space will accommodate an additional 25
employees, CFO Fishstein and three of the company’s Managing Directors,
Kevin M. Arnstein, Thomas G. McMahon and John E. Hardy, will be based in the
new location.
The Company will retain its other two office locations in East Hampton, NY
and Fair Lawn, NJ. Cook, Hall & Hyde, Inc. will begin construction build-out
of the offices on May 1st, 2006. The projected completion date is September
1st, 2006.
Representing Cook, Hall & Hyde, Inc. in the lease transaction was broker
Jerry Guerra of the Paragon Group LLC. The real estate attorneys on the
transaction were John Racanelli, Esq., partner and Wendy Forrest, Esq.,
associate, both of Farrell Fritz, PC (Uniondale, NY).