Rechler Equity Partners has secured a $75 million development facility to expand a master-planned logistics project on Long Island. AllianceBernstein provided the loan for the Rechler Business District, a newly constructed industrial park in Medford, N.Y., six miles northeast of Patchogue.
The asset comprises a fully leased, 140,875-square-foot shallow-bay logistics facility at 10 Donalds Way, a 9.8-acre, 100 per cent leased industrial outdoor storage site at 25 Donalds Way, and approximately 45 acres for further development.
Financing Details and Market Analysis
JLL negotiated the financing with a Capital Markets Debt Advisory team led by Peter Rotchford and Tyler Peck. Rotchford stated that securing financing for a project of this scale required a lender who understood both the strength of the existing cash flow and the long-term value creation of the parcels to be developed.
He added that AllianceBernstein recognised the compelling combination of stable revenue from an investment-grade tenant, a low loan-to-value ratio, and Rechler's track record in industrial development, which made this financing opportunity particularly attractive.
Attractive Industrial Market
According to JLL, the property in Central Suffolk County demonstrates strong industrial market fundamentals, driven by its location less than half a mile south of the Long Island Expressway and the limited supply of new construction. Long Island's industrial market recorded a vacancy rate of 4.9 per cent in Q1 2026, which, according to JLL data, is among the lowest in the Northeast.
Requests for further comments from Rechler Equity Partners and AllianceBernstein initially went unanswered.
