HAUPPAUGE, NY-A&Z Pharmaceutical has expanded its current headquarters and manufacturing space at 180 Oser Ave., within Rechler Equity Partners‘ Hauppauge Industrial Park here, to 30,113 square feet. The longtime tenant has added 7,750 square feet in the expansion, part of more than 100,000 square feet it occupies within the overall Rechler portfolio.
“A&Z has committed millions of dollars in infrastructure at 180 Oser to support its manufacturing company, which is indicative not only of rapid growth within the healthcare sector but also their deep commitment to the Long Island community,” says Ted Trias, director of acquisitions and leasing at Rechler. “As one of the first owners to recognize the rapid increase in healthcare and related services companies, we are now uniquely positioned to meet the space requirements of the area’s burgeoning pharmaceutical/medical sector.”
As evidence, Rechler earlier this year signed one of the largest office leases on Long Island in the first half of 2013: a 49,000-square-foot commitment at 110 Bi County Blvd. in Farmingdale by Catholic Health Services. Along with lease negotiations with CHS, Rechler worked with the Town of Babylon Industrial Development Agency to arrange an economic incentives package, including a 15-year tax abatement package for the healthcare services system.
Containing more than 3.5 million square feet of office, R&D, manufacturing and warehouse space, Hauppauge Industrial Park was originally developed by William Rechler in 1960. It’s the second largest business park in the country today.