Tuesday, March 23, 2010

Jet Blue Subleases Space From Met Life

JetBlue Airways announced they have decided to keep its headquarters in New York City, and to combine the current Forest Hills, New York and Darien, Connecticut corporate offices,into one main support center to be located in Long Island City, Queens.

JetBlue's Darien, CT support center will be combined with the current New York office sometime in 2011. Seventy jobs will be relocated to New York. The carrier's Darien office provides transactional financial support for the value airline since 2000 and has been a key ingredient of the airline's success in its first decade.

Subleasing Space From MetLife

JetBlue will be subleasing the space from MetLife, who will continue to maintain a significant presence at the location with approximately 800 associates.Subject to execution of a lease with Metropolitan Life Insurance Co. (MetLife), JetBlue expects to occupy approximately 200,000 square feet by mid-2012 in the historic Brewster Building in Long Island City Queens. The Brewster Building, owned by Brause Realty, a New York City-based real estate company, is just six miles down the road from JetBlue's current support center location in Forest Hills, and is situated at the foot of one of the main gateways to Manhattan -- the Queensborough Bridge.

David Brause, President of Brause Realty Inc. and Chairman of the Long Island City Business Improvement District (BID), said, "We are very pleased that JetBlue Airways has chosen to lease our family's building in Long Island City for its new headquarters location. In partnership with our tenant, MetLife, Brause Realty looks forward to many years together with JetBlue as we accommodate this vibrant company's present space needs and their growth into the future."


"We are pleased that JetBlue, has made their decision to join us and establish their headquarters at our class A Long Island City facility," said John M. Vazquez, Vice President, Chief Procurement Officer, Vendor Sourcing and Corporate Services for MetLife. "Our mutual commitment to Long Island City is evidence that the area continues to grow and prosper with significant residential and business development. We are confident that JetBlue crewmembers will feel right at home in our headquarters quality building and will enjoy the full array of amenities available. We value this partnership with JetBlue and appreciate having such a well regarded and customer focused organization complement MetLife."

Subleasing is Not Always the Answer

Many companies consider subleasing commercial real estate as their only option. It is not always the best strategy when you look at tax implications and the neutral impact on bottom line. Cambridge Consulting Group negotiates unique Lease Buyout programs that have saved Fortune 500 companies millions of dollars. For more information on their services please visit their new website- www.commercialleaseterminations.com

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