(Read more on the industrial market.)
RIVERHEAD, NY-Rechler Equity Partners has been given the nod tobuy the 300-acre former Grumman parcel from the town of Riverheadfor $35 million. After a five-month deliberation, the townunanimously voted Rechler as preferred developer for the 300-acreEnterprise Park at Calverton.
Rechler is planning an industrial park of about 2.5 million sf.Rechler, already the largest owner/operator of industrialproperties in Long Island, has a six-million-sf portfolio currently98.6% occupied. Audiovox, Forest Labs, Reuters and Estee Lauder aremajor tenants.
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