Rechler Equity Partners's vacancy at lowest point
New York Metro Real Estate News
Rechler Equity Partners's vacancy at lowest point
Categories: Industrial, Long Island, 144 wordsSend feedback •For its second anniversary, industrial powerhouse Rechler Equity Partners scored quite a gift: a more-than 100,000-square-foot lease that helps push its vacancy to a record low.
LNK International Inc., a manufacturer of over-the-counter medication including generic aspirin sold in drug stores, inked a lease for 106,000 square feet of space. The transaction, which fills 2004 Orville Drive North in Bohemia, is its second largest this year.
It's a huge deal, said Mitchell Rechler, a Rechler Equity founder, adding its 5.6 million-square-foot portfolio is an ultra- tight 97 percent occupied. He didn't reveal the rent or lease length.
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When asked about noteworthy deals in the works, Rechler responded: We have no space. We're almost tapped out, which is a good thing.by Dawn Wotapka Hardesty
Long Island Business News www.libn.com
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