Rechler Equity Partners completes 178,622 s/f in new leases and renewals

According to Mitchell Rechler of Rechler Equity Partners, the firm signed more than 178,000 s/f in renewals and new leases during the third quarter of 2007. The ownership completed nine transactions throughout its nearly six million s/f portfolio, which retained an occupancy level above 98%. New leases for the quarter totaled more than 15,000 s/f, while renewals led the way and comprised nearly 163,000 s/f. The largest among the renewals was an 110,000 s/f commitment by AtLite Lighting at 100 Andrews Ave. in Hicksville, N.Y. Milex Electronics' 20,400 s/f renewal at 85 Engineers Rd. in Hauppauge, N.Y. was the second largest deal consummated in the third quarter. Other major deals signed included a 13,600 s/f renewal by A&Z Pharmaceutical Inc. at 180 Oser Ave. in Hauppauge, N.Y.; and a 9,200 s/f new lease by Steinway, Inc. at 505 Walt Whitman Rd. in Melville, N.Y. Harry Stavro of Rechler Equity Partners represented the ownership in all the above transactions.