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New York commercial real estate firm Rechler Equity Partners has announced plans to develop three parcels in the Islip Foreign Trade Zone on Long Island.
The three plots to be developed are 101 Roebling Court, 2 Roebling Court and 100 Trade Zone Drive. They offer a total of 119, 000 square feet of potential space. Rechler intends to build 24, 000 square foot one story industrial facility at the first, a 41, 000 square foot one story facility at the second and a 54, 000 square foot one story building at the third location.
The firm already owns a two story industrial facility in the Zone located at 200 Trade Zone Drive.
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Gregg Rechler, co-managing partner of Rechler Equity Partners, said of the new development, “With assistance from the Town of Islip and the Islip Foreign Trade Zone, we will be able to create something truly exceptional – three significant properties that will create local jobs and provide tenants with solutions for their businesses.”
Islip Town Supervisor Thomas Croci said in a statement, ““We are very fortunate to have the opportunity to work with Rechler Equity Partners, the largest owner and operator of commercial properties on Long Island, in developing three significant parcels located in Islip’s Foreign Trade Zone. Rechler’s vast knowledge and expertise in the industry will no doubt help to attract companies to the FTZ, which will, in turn create jobs locally, a top priority in this administration.”
Established in 1982, The Islip Foreign Trade Zone has 435, 000 square feet of prime warehouse and office space located on fifty-two acres of land and direct access from it to the nearby Long Island MacArthur Airport.
The location is Long Island’s only Foreign Trade Zone. A free trade zone (FTZ) is a specific class of special economic zone. They are a geographic area where goods may be landed, handled, manufactured or reconfigured, and reexported without the intervention of the customs authorities. Only when the goods are moved to consumers within the country in which the zone is located do they become subject to the prevailing customs duties.
This announcement comes just a few weeks after the popular beverage manufacturer Snapple chose to move its Long Island operations to Rechler’s building at 2004 Orville Drive North in Bohemia, NY. The company will lease 51, 734 square feet of space there. Snapple moved its offices from their previous location in Syosset.
2004 Orville Drive North is a new, one story building with 24 foot clear ceilings and a total of 106, 515 square feet. It offers access to Veterans Memorial Highway, the Long Island Expressway and Sunrise Highway.
Rechler Equity Partners has been in business for 55 years. Rechler Equity Partners’ tenant’s include, Standard Microsystems Corp, Walmart, Forest Laboratories, Nature’s Bounty and the County of Suffolk.
