Business Services Industry
Melville, N.Y., developers break ground on massive office project.
Knight Ridder/Tribune Business News, September, 2004
By Alan J. Wax, Newsday, Melville, N.Y. Knight Ridder/Tribune Business News
Sep. 22--Long Island's largest commercial landlord broke ground yesterday in Melville on what it said is the largest speculative suburban office project in the metropolitan area.
Melville-based Reckson Associates Realty Corp. started construction on 68 S. Service Rd., the 277,000-square-foot twin of 58 S. Service Rd., before signing any tenant leases. The move is unusual, because most builders prefer to have at least one major tenant signed first so they aren't stuck with carrying the costs of an empty building for months or even years.
Reckson president Scott Rechler called the move "a feat we only would attempt on Long Island, one of the strongest office...
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