FARMINGDALE, NY-In a strong demonstration of the health and importance of the healthcare sector, Catholic Health Services of Long Island has signed a lease for nearly 49,000 square feet of office space at Rechler Equity Partners' 110 Bi County Blvd., in Farmingdale. The health care services system is making the move thanks partly to some big incentives that were negotiated on its behalf.

The deal allows CHS to consolidate a number of its locations throughout Suffolk County and expand its operations within a portion of the 113,000-square-foot facility currently leased to Bed Bath & Beyond. Following the housewares store's recent announcement of a planned relocation, it set out to fill its space, according to Ted Trias, director of acquisitions and leasing at Rechler, who represented the owner in the transaction.

“When Bed Bath & Beyond announced that it will be relocating its entire operation to New Jersey, the retailer approached us to assist in finding replacement tenant(s) for its lease, which expires in 2014,” says Trias in the release. “We were able to work closely with the brokerage community to attract CHS to the space. More importantly, this deal brings hundreds of jobs back to the area and provides the local economy with a boost.”