ISLIP, NY—Long Island's largest commercial property owner—Rechler Equity Partners—is planning to build a total of 119,000 square feet of industrial/flex space on three parcels within the Islip Foreign Trade Zone here.

Once completed, the newest additions to the Rechler portfolio will include a 54,000-square-foot property at 100 Trade Zone Drive, a 24,000-square-foot building located at 101 Roebling Court, and a 41,000-square-foot structure at 2 Roebling Court. These properties will join a fourth, fully-constructed Rechler-owned asset within the FTZ at 200 Trade Zone Drive. Each of the new properties will be developed as build-to-suit.

The Plainview, NY-based real estate investment firm announced the initiative on Monday. “With assistance from the Town of Islip and the Islip Foreign Trade Zone, we will be able to create something truly exceptional—three significant properties that will create local jobs and provide tenants with solutions for their businesses,” says Gregg Rechler, co-managing partner of Rechler Equity Partners.

“We are very fortunate to have the opportunity to work with Rechler Equity Partners, the largest owner and operator of commercial properties on Long Island, in developing three significant parcels located in Islip's Foreign Trade Zone,” says Islip Town Supervisor Thomas Croci. “Rechler's vast knowledge and expertise in the industry will no doubt help to attract companies to the FTZ, which will, in turn create jobs locally, a top priority in this administration.”

The Islip FTZ offers 435,000 square feet of prime warehouse and office space located on 52 acres of land. The complex is located on the grounds of Long Island MacArthur Airport in the Veterans Highway business corridor. Foreign Trade Zone tenants are offered a number of major benefits, including deferral of duties and taxes paid on merchandise when entering U.S. Customs Territory; exportation or transfer of cargo without the payment of any taxes or duties; and a lower rate of tax when purchasing products manufactured abroad. The Islip FTZ is the only designated Foreign Trade Zone on Long Island.