Good Afternoon
Good Afternoon
Long IslandTowns

Islip Town's Foreign Trade Zone to be the site of three new buildings

A new set of buildings is coming to Islip's Foreign Trade Zone.

Rechler Equity Partners of Plainview plans to build three structures totaling 119,000 square feet on vacant parcels in the international trade district near Long Island MacArthur Airport in Ronkonkoma.

"With 95 percent occupancy, we are actively seeking the right tenants for our three undeveloped parcels in the Foreign Trade Zone, and Rechler Equity Partners' reach into the Long Island business community will help us to do that," Brad Hemingway, executive director of the Foreign Trade Zone, said in an emailed statement.

"We have always liked working in the Town of Islip," said Mitchell Rechler, a managing partner at Rechler Equity Partners. "We had discussions with regards to the trade zone and decided it would be a good fit to work with them."

The new buildings will be on three parcels: a 54,000-square-foot building at 100 Trade Zone Dr., a 24,000-square-foot building at 101 Roebling Ct., and a 41,000-square-foot building at 2 Roebling Ct. Rechler said his firm has already built about 1 million square feet of commercial space in Islip Town.

The buildings will be built to suit, once tenants are signed. "We've already started marketing ourselves to bring tenants to the buildings," Rechler said.

Islip's Foreign Trade Zone was created in 1982. Tenants are eligible for benefits such as "deferral of duties and taxes paid on merchandise when entering U.S. Customs Territory; exportation or transfer of cargo without the payment of any taxes or duties; and a lower rate of tax when purchasing products manufactured abroad," according to the town.

Rechler said the company will pursue import-export businesses that would benefit from being located in the zone.

"We're reaching out to a number of foreign embassies and business associations relative to those in order to help attract tenants," he said. "That's where we're aiming on marketing."

Town officials say the new buildings will help the local economy. "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," Town Supervisor Tom Croci said in a news release. "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."

Latest Long Island News