NEW YORK CITY—The leasing team of Faith Hope Consolo, chairman, and Joseph Aquino, EVP of Douglas Elliman's retail group has placed Mitchell's NY in a new 40,000-square-foot headquarters and distribution center at 47-11-47-51 Austell Pl. a vacant 110,000-square-foot commercial property just two blocks from Citicorp in Long Island City, Queens.

The company—which delivers newspapers as well as food and beverages—plans to take over the entire building with another business over the next five years, Consolo tells GlobeSt.com. It would consolidate locations it has throughout the five boroughs.

Founded in 1946, Mitchell's is a family-owned business that has been delivering New York City publications for nearly 70 years, including the New York Times, Newsday, New York Observer, Wall Street Journal and Variety, along with bakery items and beverages. Consolo and Aquino exclusively represented the tenant in the transaction. The former tenant was financial services and pharmaceutical printer Confort & Company, a subsidiary of R.R. Donnelly & Son.

Consolo tells GlobeSt.com that while she is considered the “queen of retail,” this assignment had a lot of appeal for her and Aquino. “It's fun to work on something out of the ordinary; it keeps us on our toes, helps us look at our usual business in a new way and widens our knowledge base. And any business is all about serving the customer and helping our friends. So why wouldn't we do it?”

Further, she adds, “Not many people are aware that in addition to our retail leasing services, we are also experts in commercial building leasing and sales, as well as new development.”

Aquino and Consolo also were drawn to the assignment because of the rebirth that's happening of Long Island City.

“Long Island City is changing rapidly and as a result of all the new development, it's a very tight marketplace for large institutional spaces,” says Aquino. “Finding an appropriate location in the area was a challenge, but this one happens to be especially good because of its expansion capabilities.”

Adds Consolo, “Long Island City, which has been poised for a rebirth for years now, finally is achieving that as New Yorkers flock to our waterfronts, be they the ocean, East River or Hudson River. There are multiple housing developments going on right now—which will necessitate more retail—and I wouldn't be surprised to see some other industrial facilities eventually becoming more galleries, restaurants, etc., much like Soho. It will take a decade or so, but this really will be one of the great New York City neighborhoods, and it's literally a subway stop from Midtown.”

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.