Rechler Equity Partners, the largest owner and operator of commercial properties on Long Island, held its annual Broker Awards Party for over 260 guests at its Plainview, NY, office to celebrate the dealmakers involved in several of the top leases and acquisitions throughout the Rechler portfolio in 2014.
“Our annual Broker Awards Party is a special event that gives us a chance to acknowledge the brokers and companies who have been tremendous contributors to the success of our properties during the year,” said Mitchell Rechler, managing partner at Rechler.
The Broker of the Year award was presented to Phil Heilpern, senior vice present of CBRE, for his work on transactions including the 51,734 s/f American Bottling-Snapple lease at Rechler’s 2004 Orville Drive North in Bohemia, NY.
Snapple was looking to relocate its operations from Syosset, and Rechler’s Class A industrial property at 2004 Orville Drive North offered the flexibility and central location they needed.
Heilpern was also honored with the award for “Sales Transaction of the Year” for his work on 400 Moreland Road, a 57,000 s/f industrial asset in Hauppauge, NY.
In early 2014, Rechler Equity Partners were informed that Forest Labs would not be renewing their lease at 400 Moreland Road, which expired at the end of November.
“After many internal discussions, we concluded we would sell the building as opposed to re-leasing it, and take advantage of the escalating sales market,” said Gregg Rechler, managing partner at Rechler Equity Partners.
“By mid-2014, Phil Heilpern and his team, including Marty Lomazow and Richard Karson, had identified a purchaser for the property. Phil’s ability to negotiate with both a sophisticated seller and buyer proved invaluable. The buyer closed on the property just four days after the lease expiration.”
Ted Stratigos, principal and managing director of Avison Young, was presented with the “Innovative Deal of the Year” Award for his work on AC Lighting & Electric Supply’s 9,140 s/f lease at 220 Roger’s Way.
Stratigos and Amanda Gorozdi of Avison Young, were recognized for their role in the 2014
Rechler Equity Partners “Industrial Deal of the Year,” representing Spirit Pharmaceuticals in their 55,000 s/f lease at 2004 Orville Drive North.
CBRE was named Rechler’s Brokerage Firm of the Year for the second year in a row for their work on deals with an aggregate value of $14 million.