Rechler partners end year on a high note.

Rechler Equity Partners, Long Island's largest owner of industrial real estate, closed 2004 on an extremely high note. The ownership announced the completion of leases totaling over one million square feet of space within its 5.9-million-square-foot industrial portfolio situated throughout Long Island. The announcement was made by Mitchell Rechler of Rechler Equity Partners.

Among the largest transactions completed in 2004 was a 128,000-square-foot lease signed by Medical Depot, an international distributor of medical equipment, at 250 Kennedy Drive, a one-story industrial facility located in Hauppauge, NY. The company consolidated three facilities it occupied throughout the market into the new space. In addition, the giant national retail chain of home furnishing superstores, Bed Bath & Beyond, leased approximately 105,000 square feet of space at 110 Bi County Parkway in Farmingdale, NY for their Long Island Headquarters.

Other large-scale transactions consummated within the portfolio included Decor Holdings' commitment of 48,000 square feet of space at 60 Oser Avenue and Tiffen's 37,500-square-foot lease at 90 Oser Avenue in Hauppauge, NY; Deutsch Relay's 36,000-square-foot lease at 55 Engineer Road in Hauppauge; Blue Cross/Blue Shield's 33,650-square-foot lease at 25 Orville Drive in Bohemia, NY; and PCI's 32,000-square-foot commitment at 140 Wilbur Place in Bohemia.

"Leasing activity on Long Island maintained a robust pace throughout the year," noted Mr. Rechler. "We anticipate a continuation of this trend well into 2005 as job growth follows an overall revitalized national economy."