August 10, 2015 - Long Island
Rechler Equity Partners has signed a new full-building lease for 36,000 s/f at 55 Engineers Rd. for Citation Clinical Labeling Systems, according to company partners Mitchell and Gregg Rechler.
Ted Trias, director of leasing at Rechler Equity Partners, negotiated on behalf of the ownership, while Howard Nemshin of Atlantic Property represented the tenant in the deal.
"Rechler Equity Partners' 55 Engineers Rd. is the perfect building for Citation's needs. It's a true R&D facility offering full A/C, drop ceilings throughout, and parking for 150 cars. With help from the Suffolk County IDA, we were able to secure a long-term lease for Citation, and continue the R&D tenancy at 55 Engineers."
Citation Clinical Labeling Systems has been a global manufacturer and supplier of clinical labels, booklets and labeling software for the pharmaceutical and biotechnology industries since 1963. It will use its new space at 55 Engineers Rd. for office operations and the warehousing and manufacturing of its products. The new lease marks an expansion and relocation for the company, which comes to 55 Engineers Rd. from a 20,000 s/f property in Edgewood.
"Citation is excited about the opportunity that this new and expanded space will provide to its customers, employees and overall business. With the assistance of the Rechler Equity Partners team, we were able to locate and qualify a property appropriately suited to our current and future needs," said Richard Bolnick, president of Citation Clinical Labeling Systems. "The new facility is double the size of our current location, giving us the ability to continue on our established growth trajectory while remaining on Long Island."
Located between Old Willets Path and Plant Ave., 55 Engineers Road offers tenants gas heat, a full sprinkler system, and fiber optics. It's conveniently located near a number of major roadways, including the Veterans Memorial Highway, Long Island Expressway, and the Northern State and Sunken Meadow parkways.
Rechler Equity Partners is the successor company to Reckson Associates, founded over 55 years ago by Donald and Roger Rechler. Today managed by Mitchell and Gregg Rechler, Rechler Equity Partners is the largest owner of commercial real estate on Long Island with a portfolio of assets totaling over 6.5 million square feet. Rechler Equity offers a wide range of services including leasing, property management, asset management, architecture, construction, environmental, finance and development.