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Logistics Firm Subleases 111,000 SF from NYT

LAKE SUCCESS, NY-Stellae International is relocating from the Jamaica section of Queens into the 1.4-million-square-foot complex at 1111 Marcus Ave.

By Paul Bubny | Updated on May 25, 2010

LAKE SUCCESS, NY-Stellae International, a logistics management company serving European fashion houses, is subleasing 111,111 square feet from the New York Times Co. at 1111 Marcus Ave. here. The new subtenant is expected to cross the Nassau County border from 14939 Guy R. Brewer Blvd. in the Jamaica section of Queens into the 1.4-million-square-foot complex, which once housed the United Nations, during this quarter.

Asking rent for the seven-year sublease is $7 per square foot, down from $10.50, according to a release. The Times Co. used its space at 1111 Marcus since 2001 to house a distribution center for its City & Suburban Delivery Systems subsidiary, which it closed in January 2009.

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