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EDISON, NJ-The New York Times has simultaneously bought and soldits mammoth 1.4-million-sf printing and warehouse facilities and anadjacent development parcel here, altogether totaling 86 acres. Themoves are tied to a plan by the company to consolidate its printingoperations at a newer facility in College Point, Queens, NY. Theultimate owner of the facility here is an affiliate of the New YorkCity-based KTR Capital Partners.

The Times had reportedly been ready to sublease the localcomplex through 2018. But after doing the math, company officialsdecided it would be less costly to buy the property andconcurrently re-sell it rather than absorb what are said to beabove-market rental terms only partially offset by sublease rents.The company would also have had to absorb the costs of restoringthe sublet buildings to their original state, as contractuallyrequired by its original lease.