Long Island’s largest owner of commercial real estate, Rechler Equity Partners, has signed leading vitamin manufacturer Bactolac Pharmaceuticals to a five year extension of its 20,000 s/f warehouse lease at 73 Oser Avenue in Hauppauge, NY.
The announcement was made by company partners Mitchell and Gregg Rechler.
Bactolac Pharmaceutical has been an industry-leading vitamin manufacturer for over 17 years. Rechler director of acquisitions & leasing Ted Trias negotiated the lease on behalf of the building ownership and the tenant.
Last year, Bactolac approached Rechler in need of a short-term lease for this additional warehouse space, which Rechler was able to accommodate quickly.
“Bactolac is a long-term tenant within the Rechler portfolio occupying over 100,000 square feet of industrial space in total,” said Trias. “This latest transaction demonstrates our firm’s flexibility and continued commitment to aligning with the needs of our tenants on both a short- and long-term basis, which is why the Rechler portfolio enjoys such a high tenant retention rate.”