Felix, Inc., a news agency opened 55 years ago, will bring its newspapers, magazines, and books off the sidewalk for the last time on June 30.

R. M. Bradley Co., the owner of the building at 1304 Mass Ave., has informed Angelo Caragianes. Felix's owner, that it has leased the building to another tenant. Caragianes, whose five-year lease terminates July 1, was not allowed to make a bid for the rent of the premises.

Robert Crocker, a representative of the R. M. Bradley Co., said that he had repeatedly warned Caragianes that "certain aspects" of the news agency must be changed before the company would renew the lease. Croker would not identify these "aspects."

"He [Caragianes] has had sufficient warnings but did not make these changes. We decided we wanted a different type of business in that spot and we found one that is better for the Square and the community," said Crocker.

Caragianes, who at present has no plans for relocation, said yesterday that the letter informing him his lease would not be renewed was a total surprise to him.

"I can't think of any reason why they won't let me remain here. No one has explained this action to me or my lawyers. Even if they are getting more rent from this other business, they could at least have let me try to meet this higher rent," said Caragianes.

Crocker refused to release the name or the service of the business that will take over the building.