JLL Capital Markets on Monday announced the arrangement of a $75 million development facility for the Rechler Business District, a master-planned industrial park in Medford, New York. The financing, secured on behalf of Rechler Equity Partners through AllianceBernstein L.P., underscores the continued demand for industrial space across the New York metropolitan region.
The facility will support the expansion of the business park, which currently features a fully leased 140,875-square-foot Class A shallow bay logistics facility, nearly 10 acres of leased industrial outdoor storage (IOS) space, and approximately 45 acres of shovel-ready land for future development.
The JLL Capital Markets Debt Advisory team, led by Senior Managing Director Peter Rotchford and Managing Director Tyler Peck, facilitated the deal.
“Securing financing for a project of this scale required a lender that understood both the strength of the existing cash flow and the long-term value creation embedded in the to-be developed parcels,” Rotchford said. “AllianceBernstein recognized the compelling combination of stable income from an investment-grade tenant, a low leverage profile and Rechler’s track record for industrial development.”
Market fundamentals remain tight
The financing arrives during a period of sustained industrial strength for the region. According to JLL Research, Long Island’s industrial vacancy rate sat at just 4.9% in the first quarter of 2026—remaining among the lowest in the Northeast.
This environment, characterized by constrained supply and robust tenant demand, is a trend mirrored across the state line in New Jersey. As industrial vacancy rates remain at historical lows throughout the Tri-State area, developers are increasingly focused on projects that offer long-term value, such as the Rechler Business District’s strategic location near the Long Island Expressway (I-495).
With only 1.36 million square feet currently under construction across Long Island and average asking rents holding steady at $18.52 per square foot, the market remains a primary focus for investors seeking stability in the industrial sector.
