By GREGORY ZELLER //
Creative renovations, lengthy negotiations and a dash of clever innovation have resulted in new Long Island facilities for a national cornerstone of veterinary science – and a shiny award for an Island real-estate ace.
The Commercial Industrial Brokers Society of Long Island has presented its Most Ingenious Deal of the Year award to Philip Shwom, president of Melville-based Schacker Real Estate Corp., for his creativity and leadership in securing a new lease for California-based Antech Diagnostics, a veterinary reference laboratory with clients and partnerships across North America.
With Shwom’s help, Antech Diagnostics has leased 87,864 square feet at 195 N. Broadway in Hicksville – the long-closed Sears building across the street from the Broadway Mall and a longtime eyesore that’s being refurbished into a 350,952-square-foot, state-of-the-art commercial and retail complex by Bethpage-based developer Steel Equities.
Philip Shwom: Ingenious innovator.
The annual “Ingenious” award – announced June 26 at the Heritage Club at Bethpage during the 28th annual Real Estate Dinner hosted by CIBS and the Association for a Better Long Island – recognizes excellence in both development innovation and deal-making.
Shwom, who partnered with global commercial realtor CBRE to represent Antech Diagnostics, led a complex two-year negotiation on a lease agreement that helped Steel Equities executive a plan to convert the dilapidated, 1960s-era department store into a cutting-edge complex – not only tailored to Antech’s unique operational needs, but still offering tens of thousands of square feet for high-end retail uses.
Steel Equities acquired the 26.4-acre site – including the vacant Sears, plots occupied by TD Bank and fast-food chain Chipotle, and 23.3 acres of developable land – in 2023. There’s still plenty of redevelopment work to be done, but approximately 51,000 square feet of retail space is currently available at the site.
By helping Antech Diagnostics secure its Long Island location and Steel Equities rethink and rev up its plans for the site, Shwom represented “the very best of what our industry stands for,” according to CIBS President Ralph Benzakein, who applauded the licensed broker’s “vision, adaptability and impact.”
“This was not just about square footage,” noted Benzakein, also a principal at leading regional commercial broker Cresa Long Island. “It was about reimagining what commercial space on Long Island can become.
“Phil’s ingenuity and persistence helped turn a challenged retail site into a thriving life-sciences asset.”
Shwom worked closely with both his client and the property owner throughout the lengthy process to overcome various logistical, financial and design hurdles. After purchasing the property, Steel Equities considered several options, including knocking down the former Sears and rebuilding from scratch – but Shwom convinced them to renovate the main building into a commercial/retail mixed use, including offices, laboratory space and a warehouse for Antech Diagnostics.
You can count out Sears: But there’s more life for this site, thanks to some innovative thinking.
The award-winner called the comprehensive lease deal “one of the most complicated and rewarding transactions of my career.”
“We had to think outside the box every step of the way, from design and functionality to timing and financial structure,” Shwom said. “I’m grateful to Antech and to Steel Equities for their willingness to work collaboratively to bring a unique solution to life.”
