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Reckson Associates reports robust Long Island leasing activity.

Reckson Associates Realty Corp. has experienced several substantial lease renewals and expansions throughout their Long Island portfolio. The recent transactions, totaling over 200,000 square feet, are reflective of Reckson's strength in building solid tenant relationships, and in its responsiveness to the growth and changing space needs of tenants. The transactions took place across Reckson's Long Island region, from office space in western Nassau to industrial sites in the heart of Suffolk County. Reckson is the largest owner of office and industrial properties on Long Island, with 120 properties totaling 9.4 million square feet.

Chase Manhattan Bank extended their lease for 7,082 square feet at 50 Charles Lindborgh Blvd. in Uniondale. The well-known banking and financial services company also leased an additional 13,337 square feet on the third floor of 395 North Service Road in Melville. This new space, combined with their existing 3 8,450 square feet on the first and third floors, gives Chase a total of 51,787 square feet in the building. Thomas Pandolfo of Corporate National Realty served as the broker in both transactions.

Meanwhile, Marchon Eyewear, a producer and distributor of eyewear, renewed their lease for 25,000 square feet at 265 Spagnoli Road in Melville. Ray Finkelstein of United Realty served as the broker.

Another substantial renewal in Melville came from Federal Express Corporation, in which the overnight delivery service renewed their lease for 17,835 square feet at 225 Broadhollow Road.

"Tenant satisfaction is our primary concern, and Reckson has always strove to accommolate tenants and meet their continuing space needs," noted Mitchell Rechler, Reekson's co-COO. "If a tenant is in need of additional space, meeting that need becomes a top priority. We are always willing to work with tenants in that regard."

Other recent renewals in Melville include transactions with RRT Design and Construction/a.k.a Ebviro Services and Constructors, a construction company, renewed their lease for 7,350 square feet at 125 Baylis Road. Ross Selinger, of Selinger Enterprises, represented the tenant in this transaction. Also at 125. Baylis, Holtz Rubenstein & Co., P.C., a law officer, leased an additional 6,768 square feet for a total of 21,415 square feet..

Other renewals in Nassau County included transactions with Construction Industry Services Corporation, a construction management company, which renewed its lease for 10,378 square feet at 120 Mineola Blvd. Hayes Clark of Jones, Lang, LaSalle Americas, Inc. served as the broker.

Another sizable renewal took place at 1979 Marcus Avenue in Lake Success where Liberty Maritime Corporation, an operator and manager of cargo vessels, renewed their lease for 10,283 square feet.

Renewal activity at Reckson's industrial properties included the retention of PCI Corporation, who renewed 32,000 square feet at 140 Wilbur Place in Bohemia for their light manufacturing operation. At nearby 125 Wilbur Place, Copy World of Long Island, Inc., a copy machine distributor, renewed 6,609 square feet.

In Hauppauge, Corporate Transport Express, Ltd., a distributor within the transportation industry, renewed 20,000 square feet at 65 Oser Avenue. Milex Electronics Corporation, an electronics company, renewed their lease for 20,400 square feet. Spectron Glass & Electronics, Inc., an electronics company, renewed their lease for 16,970 square feet.

Several renewals occurred at 400 Oser Avenue in Hauppauge. Axon Systems, a manufacturer and distributor of medical equipment, renewed their lease for 6,000 square feet, represented by James Mounce of James Mounce Real Estate. Purchasing Strategies Inc. d/b/a United Consumers Club, renewed their lease for 12, 1 50 square feet for their purchasing club operation. Power Systems International, Inc., a manufacturer of power equipment, renewed their 4,900 square feet.
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Title Annotation:Reckson Associates Realty Corp.
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:May 17, 2000
Previous Article:Reckson Realty announces redevelopment in Nutley.
Next Article:GVA Williams acquires Associated Realty in NJ.

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