Record occupancy for LI’s largest commercial landlord
Plainview-based Rechler Equity Partners, the largest owner of commercial real estate on Long Island, reported a
mid-year occupancy rate of 99.6 percent for its portfolio of more than 5 million square feet.
The occupancy rate is the highest in Rechler Equity’s 55-year history, according to a company statement.
The firm’s principals credit the high occupancy on one of the tightest industrial real estate markets in recent
memory, spurred on by companies migrating from high-priced properties in Brooklyn and Queens.
Rechler Equity has capitalized on the low supply and high demand for industrial space by selling three of its
properties this year, including a 140,000 square-foot warehouse and distribution facility at 1516 Motor Parkway in
Hauppauge; a 65,000 square-foot manufacturing and distribution facility at 42 Windsor Place in Central Islip; and a
30,000 square-foot manufacturing facility at 125 Ricefield Lane in Hauppauge.
“The demand for industrial real estate on Long Island is unlike anything we’ve experienced before,” Mitchell Rechler,
Rechler Equity managing partner, said in the statement. “Our occupancy rates have never been higher, leases are
being filled more than a year in advance and properties no longer fitting within our portfolio profile are selling
quickly. These benchmarks directly affect the confidence businesses have to invest and establish themselves on Long Island.”