Rechler gets year off to fast start with 61,000 s/f in deals.

Rechler Equity Partners, Long Island's largest owner of industrial real estate, reported a fast start for leasing velocity in 2005.

The ownership announced the completion of leases totaling more than 61,000 square feet of space during January alone within its 5.9-million-square-foot industrial portfolio situated throughout Long Island.

The announcement was made by Mitchell Rechler of Rechler Equity Partners.

"While renewals continued to play a part in Long Island's leasing activity during the first month of the year, new commitments are once again taking center stage," said Mr. Rechler.

"In our portfolio alone, 90% of the leases we've signed have been to new tenants taking advantage of Long Island's excellent business environment."

Major renewals signed during the first month of the year included, Climatronics's 16,500-square-foot deal at 140 Wilbur Place in Bohemia and Charles Wood's 20,000-square-foot commitment at 30 Hub Drive in Melville.

Among the new industrial leases were several in Hauppauge including Electronic Machine's 8,100 square feet and Justin Electronics' 5,935 square feet at 400 Oser Avenue, Colonial Village's 4,000 square feet at 410 Oser Avenue and Safe Guard Camera's 2,000 square feet at 180 Oser Avenue.

In addition, Amni committed to 5,000 square feet at 125 Wilbur Place in Bohemia.

Rechler Equities was represented by in-house broker Harry Stavro in all these lease transactions.

Zere Real Estate acted on behalf of Colonial Village, Newmark Real Estate Services negotiated for Electronic Machine, Whitman Realty represented Justin Electronics and Aireco consulted Safe Guard Camera.