HAUPPAUGE, NY-Rechler Equity Partners has closed on a sale-leaseback deal valued at $18 million for Standard Microsystems Corp.’s headquarters at 80 Arkay Dr. in the Hauppauge Business Park here. SMSC has leased 120,000 square feet at 80 Arkay for 15 years; the deal adds a total of 200,000 square feet to Rechler’s existing six-million-square-foot office and industrial portfolio.

In a statement, Rechler partner Gregg Rechler says the sale-leaseback “provided us with a great opportunity to capitalize on current market fundamentals and acquire an outstanding office property situated in one of the country’s premier business parks. Our long-term view of this acquisition is extremely positive given that we have a long-standing, high-quality net-leased tenant in place, as well as class-A office space ready for occupancy.” The SMSC lease means there’s 80,000 square feet of office to fill, and Rechler says in a release that it can be divided into smaller units.

Along with Gregg Rechler, Ted Trias, director of acquisitions and leasing, negotiated the deal on behalf of Rechler Equity. Robert Godfrey, SVP with CBRE’s Woodbury, NY office, represented SMSC. The deal went into contract this past August.

80 Arkay was built in 2007 expressly as headquarters space for SMSC, a semiconductor maker. Prior to the SMSC sale-leaseback, Rechler already had more than four dozen properties in its Hauppauge portfolio. It has another half dozen in neighboring Islandia.