Melville, NY (PRWEB) December 14, 2007
Long Island's largest owner of commercial real estate, Rechler Equity Partners, signed more than 178,000 square feet in renewals and new leases during the third quarter of 2007. The ownership completed nine transactions throughout its nearly six-million-square-foot portfolio, which retained an occupancy level above 98 percent. The announcement was made by Mitchell Rechler of Rechler Equity Partners.
New leases for the quarter totaled more than 15,000 square feet, while renewals led the way and comprised nearly 163,000 square feet. The largest among the renewals was an 110,000-square-foot commitment by AtLite Lighting at 100 Andrews Avenue in Hicksville, NY. Milex Electronics' 20,400-square-foot renewal at 85 Engineers Road in Hauppauge, NY was the second largest deal consummated in the third quarter.
Other major deals signed included a 13,600-square-foot renewal by A&Z Pharmaceutical Inc. at 180 Oser Avenue in Hauppauge, NY; and a 9,200-square-foot new lease by Steinway, Inc. at 505 Walt Whitman Road in Melville, 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/investors of commercial real estate in Long Island with a portfolio of assets totaling 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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