PLAINVIEW, NY—Rechler Equity Partners has reported an unprecedented rate of occupancy for its industrial real estate portfolio on Long Island during the first two quarters of the year.

Portfolio-wide occupancy rates for the firm—which reportedly is the largest owner of commercial real estate on Long Island—are higher than the company has experienced in more than 55 years in business, with a mid-year 2016 occupancy rate of 99.6%.

In recent years, Rechler reports it has seen increases in several critical trends: companies migrating out of Brooklyn and Queens—where the price of commercial and industrial real estate is said to have nearly doubled in recent years—and moving east to Suffern County.

“The demand for industrial real estate on Long Island is unlike anything we've experienced before,” says Mitchell Rechler, managing partner of Rechler Equity Partners. “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.”

Rechler has signed and resigned tenants to long-term commitments. Marchon Eyewear, a manufacturer of high-end eyewear and sunglasses, recently signed a five-year lease renewal for a 41,800-square-foot facility at 10 Hub Drive in Melville. This new lease agreement marks the continuation of a more than 20-year relationship between Marchon Eyewear, its affiliates and Rechler Equity Partners.

In addition, AMSCO Valley Forge, an automotive manufacturing and supply company, recently signed a six-year renewal lease for a 24,000-square-foot facility at 90 Plant Ave. in Hauppauge—a facility they have leased from Rechler since 1994.

Religious Art, an importer and wholesaler of Catholic Gifts, recently relocated its Brooklyn headquarters to an 18,000-square-foot facility at 170 Wilber Pl. in Bohemia, NY and committed to a 10-year lease agreement.

Hemisphere Trading of NY, an importer and distributor of glass top and tableware, recently relocated its operations in Jamaica, Queens to a 65,000-square-foot facility at 42 Windsor Pl. in Central Islip.

PLAINVIEW, NY—Rechler Equity Partners has reported an unprecedented rate of occupancy for its industrial real estate portfolio on Long Island during the first two quarters of the year.

Portfolio-wide occupancy rates for the firm—which reportedly is the largest owner of commercial real estate on Long Island—are higher than the company has experienced in more than 55 years in business, with a mid-year 2016 occupancy rate of 99.6%.

In recent years, Rechler reports it has seen increases in several critical trends: companies migrating out of Brooklyn and Queens—where the price of commercial and industrial real estate is said to have nearly doubled in recent years—and moving east to Suffern County.

“The demand for industrial real estate on Long Island is unlike anything we've experienced before,” says Mitchell Rechler, managing partner of Rechler Equity Partners. “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.”

Rechler has signed and resigned tenants to long-term commitments. Marchon Eyewear, a manufacturer of high-end eyewear and sunglasses, recently signed a five-year lease renewal for a 41,800-square-foot facility at 10 Hub Drive in Melville. This new lease agreement marks the continuation of a more than 20-year relationship between Marchon Eyewear, its affiliates and Rechler Equity Partners.

In addition, AMSCO Valley Forge, an automotive manufacturing and supply company, recently signed a six-year renewal lease for a 24,000-square-foot facility at 90 Plant Ave. in Hauppauge—a facility they have leased from Rechler since 1994.

Religious Art, an importer and wholesaler of Catholic Gifts, recently relocated its Brooklyn headquarters to an 18,000-square-foot facility at 170 Wilber Pl. in Bohemia, NY and committed to a 10-year lease agreement.

Hemisphere Trading of NY, an importer and distributor of glass top and tableware, recently relocated its operations in Jamaica, Queens to a 65,000-square-foot facility at 42 Windsor Pl. in Central Islip.