Workplace North Market, a 52,025-square-foot office and retail building in Montvale, is part of a planned six-building redevelopment project by The S.Hekemian Group — Rendering by Serious Work/Courtesy: The S. Hekemian Group
By Joshua Burd
A new boutique office building in Montvale has attracted two more tenants, marking the latest additions to a mixed-use development by The S. Hekemian Group.
Brokers with JLL say TaikiUSA, a global skincare and makeup brand, will occupy 6,699 square feet of third-floor space at what’s known as Workplace North Market. The second tenant, financial adviser Janney Montgomery Scott, committed to 5,820 square feet on the second floor.
The leasing team also has a deal pending that would leave the four-story, 52,025-square-foot property at 200 Market St. with just over 5,000 square feet of available office space.
“Workplace North Market is the perfect solution for tenants seeking superior Class A space with high-end amenities in a highly convenient location,” said Frank Recine, an executive managing director with JLL. “The contemporary design of North Market provides the ideal environment to engage and energize employees.”
Recine represented The S. Hekemian Group in both transactions. Garret Rioux of Corporate Real Estate Services represented Taiki USA, while Christopher DeLorenzo of JLL represented Janney Montgomery Scott.
The new tenants will join law firm Beattie Padovano LLC, which leased 20,000 square feet in early 2020, more than a year before the building’s completion.
Workplace North Market is the flagship office building of the North Market district, a new campus that’s taking shape at the former Mercedes-Benz USA complex near the Garden State Parkway. The building includes 41,025 square feet of office space on the second through fourth floors and 11,000 square feet of ground-floor retail space.
At full build-out, North Market is slated to include six buildings.
“With one additional pending lease, Workplace North Market will be at a fantastic 88 percent leased,” The S. Hekemian Group’s Peter Hekemian said. “To be in this position coming out of COVID is a testament to the hard work done by JLL team, the uniqueness of the building offering and the energy of the expanding neighborhood that is literally coming out of the ground day by day.
“We’re very excited to have a number of significant, high-profile leases in the works, to be announced soon. The momentum is now feeding on itself exponentially.”