Hampton Business District refinanced with $120 million loan

Westhampton Beach, NY JLL Capital Markets has arranged $120 million in financing for the Hampton Business District, a five-building, 50-acre, master-planned business park currently 94% occupied and featuring 385,002 s/f of Class A+ logistics space.

JLL worked on behalf of the borrower, Rechler Equity Partners, to secure the financing from AllianceBernstein LP. The loan will be used to retire existing debt.

Developed by Rechler Equity under a public-private partnership with Suffolk County in 2014, Hampton Business District is situated within the Francis S. Gabreski Airport in Suffolk County. The five-building hub is home to 24 tenants in all, including Iron Mountain, United Refrigeration Solutions and a leading e-commerce company.

The only Class A+ industrial park servicing the region, Hampton Business District features move-in ready suites with above-standard finishes and 18 to 22 ft. ceiling heights. Its proximity to the airport–which generates approximately $84.6 million in annual economic activity–provides consistent high-end flight traffic.

Located south of Exit 63 of Sunrise Highway, the property provides local and regional connectivity to Long Island and the tri-state region. It is a two-hour drive through the Hamptons to Montauk at the Eastern tip of Long Island and provides access to Nassau County in 45 minutes. Additionally, the Long Island Railroad Westhampton Station stop is a five-minute drive, while John F. Kennedy Airport (JFK) is within a two-hour drive. JFK ranks 22nd in the world for cargo and shipping traffic and receives approximately 1.4 tons per year.

“The Hampton Business District represents our long-term vision to bring Class A industrial space to the East End of Long Island—and this refinancing affirms the strength and stability of that vision,” said Gregg Rechler, co-managing partner of Rechler Equity Partners. “We’re proud to see the business park continue to thrive as a regional economic engine, and we’re grateful to JLL and AllianceBernstein for their partnership in supporting its continued growth.”  

The JLL team that arranged the financing was led by senior managing directors Peter Rotchford and Andrew Scandalios, managing director Tyler Peck and executive vice president Doug Omstrom.

Rotchford said, "Lenders showed strong interest in this refinancing opportunity for the Hampton Business District. The property's location at the entrance to the Hamptons, serving almost 400,000 residents within 20 miles and a summer population that triples the local count, made it highly attractive."