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TradeOut.com Puts Space on Sublease Market

VALHALLA, NY-One of Westchester's high-flying dot-coms has put half of its space here on the sublease market jeopardizing financial incentives it was to receive from Westchester County and New York State.

By John Jordan | Updated on March 20, 2001

VALHALLA, NY-TradeOut.com, an Internet e-commerce company, has put 30,000 sf of its leased office space at 100 Summit Lake Drive on the sublease market. Officials with Insignia/ESG confirm reports that the firm has placed its space on the fourth floor of the building on the sublease market.

The privately-held company, which specializes in being a business-to-business site for excess inventory and idle assets, made headlines last June when it signed a lease for 56,869 sf of space at 100 Summit Lake Dr., part of Reckson Associates Realty Corp.’s The Summit office complex. Insignia/ESG, is marketing TradeOut.com’s space on the sublease market. Officials with TradeOut.com could not be reached for comment at press time.

In return last year’s lease commitment, the company secured approximately $700,000 in state and county incentives. Salvatore Carrera, director of Westchester County’s Department of Economic Development/Real Estate for the County Executive, says that he is not concerned about the decision by TradeOut.com to downsize its space in relation to the incentive package the firm had negotiated with the county and New York State.

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