Year-End Activity Propels Rechler Equity Partners Portfolio to 98.14% Occupancy
Rechler Equity Partners, Long Island's largest owner of commercial real estate, ended 2007 on a high note. With 122,025 square feet in new leases and renewals during the fourth quarter of 2007, total occupancy with the firm's six million-square-foot portfolio reached 98.14 percent occupancy.
Melville, NY (Issues Wire / PRWEB) February 29, 2008 -- Rechler Equity Partners, Long Island's largest owner of commercial real estate, ended 2007 on a high note. With 122,025 square feet in new leases and renewals during the fourth quarter of 2007, total occupancy with the firm's six million-square-foot portfolio reached 98.14 percent occupancy. The announcement was made by Mitchell Rechler of Rechler Equity Partners.
The firm announced the completion of eight transactions during the fourth quarter led by Display Presentation's 55,390-square-foot renewal at 150 Engineers Road in Hauppauge, NY. Richard Cohen of Ashlind Properties negotiated the long-term renewal on behalf of Display Presentation.
Further highlighting the robust leasing activity was Scientific Industry's 25,000-square-foot renewal at 70 Orville Drive in Bohemia, NY and a 10,000-square-foot renewal by Parts World at 1385 Lakeland Avenue in Bohemia, NY.
Other noteworthy transactions within the Rechler Equity portfolio included:
- A&Z Pharmaceutical Inc.'s new 8,280-square-foot lease at 180 Oser Avenue in Hauppauge, NY;
- AMS's 7,800-square-foot new commitment lease at 180 Orville in Bohemia, NY; and
- Sensory Lighting's 7,500-square-foot renewal at 651 Old Willets Path in Hauppauge, NY.
Harry Stavro of Rechler Equity Partners represented the ownership in all the above transactions.
About Rechler Equity Partners
Rechler Equity Partners is one of the largest owners/operators of commercial real estate in Long Island with a portfolio of assets totaling more than six million square feet. The company owns and operates many of the market's premier properties including Airport Business Center, a 1.8 million-square foot, award-winning, high-tech complex in Bohemia. Rechler Equity offers a wide range of services including leasing, property management, asset management, architecture, construction, environmental, finance and development.
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