Long Island’s largest owner of commercial real estate, Rechler Equity Partners, recently signed global logistics leader DHL to a 24,000 s/f lease at 325 Rabro Drive in Hauppauge, NY.
The announcement was made by company partners Mitchell and Gregg Rechler.
Rechler director of acquisitions & leasing Ted Trias negotiated the lease on behalf of the building ownership, while CBRE Group, Inc.’s David Godfrey and Bob Godfrey acted on behalf of the tenant.
“This latest transaction validates our strategy of capitalizing on our long-term relationships within the Long Island Business community,” said Trias.
“DHL’s current lease in Melville, NY, expires by year-end, and we were able to negotiate a favorable deal for the tenant, assist in identifying and obtaining the required permits from the Town of Smithtown and expeditiously manage the process.”
DHL’s new Long Island location is within the Hauppauge Industrial Park, where Rechler Equity Partners currently owns over 3.5 million square feet of office, R&D, manufacturing and warehouse space.
Originally developed by William Rechler in 1960, the park is the second largest business park in the country today and one of Long Island’s primary business corridors.