Waterfront Corporate Center II at 121 River St. in Hoboken
By Joshua Burd
A new daycare and preschool center is coming to the base of a well-known office complex in downtown Hoboken, in a newly announced transaction by JLL.
According to the firm, Cresthill Academy has leased 13,588 square feet at 121 River St., the site of what’s known as Waterfront Corporate Center II. The operator has signed a 15-year lease and will provide full-time and part-time programs for infants, toddlers, preschoolers and kindergarteners, while offering organic meals and snacks made by its affiliate catering company, Purely Plated Organic, and providing Mandarin Chinese, Spanish and sign language classes starting at infancy.
“Waterfront Corporate Center II is the perfect solution for Cresthill Academy, providing ample space in a dynamic location with direct connectivity to Manhattan and all of New Jersey,” said Marta Villa, a senior vice president with JLL. “Waterfront Corporate Center II provides superior quality space amid abundant neighborhood amenities.”
Villa represented the landlord, SJP Properties, while JLL Senior Associate Blake Shanaphy represented the tenant. In a news release, JLL noted that Waterfront Corporate Center II is a high-end 520,000-square-foot office and retail property with floor-to-ceiling glass windows and vast New York City and Hudson River views.
It’s also part of a three-building waterfront complex developed by SJP that spans a combined 1.5 million square feet and is surrounded by the retail, restaurants and mass transit offerings of downtown Hoboken.
Waterfront Corporate Center also houses an on-site Crunch Fitness, Del Frisco’s Grille, Wicked Wolf restaurant and Gregorys Coffee, among other retailers. The complex’s office tenants include EY, Marsh & McLennan, Newell Brands, Walmart and Pearson.
“With unmatched access to public transportation, and so many neighborhood amenities and services in the immediate vicinity, Waterfront Corporate Center is ideal for Cresthill, which does the Hoboken community a great service by offering exceptional daycare and early education for area families,” said Alexander Erdos, SJP’s senior vice president for leasing and marketing. “Hoboken remains one of the Hudson River waterfront’s most sought-after submarkets, and we’re proud to continue our track record in this market of leasing to community-enhancing companies and businesses seeking exceptional space for their employees, clients and customers.”