More Than 230,000 SF Subleases Signed on LI

WOODBURY, NY-Insignia/ESG concluded two industrial sublease dispositions in Suffolk County, NY on behalf of JC Penney Co. Inc. and Tellabs Inc. The properties total 230,000 sf, and are located in Ronkonkoma and Farmingdale. Financial information about either deal was not released.

Ed Fitzsimons and Dan Oliver of Insignia/ESG’s Long Island industrial services group, along with Chris Reynolds of the firm’s Chicago office, brokered a 130,000-sf sublease transaction at 2005 Orville Dr. North in Ronkonkoma on behalf of Tellabs, a global optical networking firm. Bohemia-based NBTY Inc., a national manufacturer and distributor of nutritional supplements, sublet the entire facility and was represented by Atlantic Property Services. Although there is an abundance of space available in the area, the firm selected the Ronkonkoma site for its expansion because it offers state-of-the-art infrastructure and is in close proximity to its headquarters.