By Joshua Burd
A luxury bedding and home goods maker has found a new headquarters in downtown Summit, under a 23,000-square-foot lease announced Thursday by Newmark Knight Frank.
Brokers with the firm represented The Heller Group, the landlord at One Prospect St., in the transaction with Boll & Branch. The e-commerce designer and retailer will occupy the entire three-story building, which is within walking distance of NJ Transit’s Summit station and accessible from Route 24 and Interstate 78.
NKF Senior Managing Director Kevin Murphy and Vice Chairman David Simson led the team that represented ownership. Jeff Heller, principal and managing director of Avison Young’s New Jersey office, represented the tenant.
“The Heller Group’s property at One Prospect Street offered the largest block of commercial space currently available in downtown Summit, a historically coveted location among North Jersey-based companies for its proximity to many restaurants, shops and transportation services,” Simson said. “The live-work-play environment that downtown Summit offers goes a long way in helping companies attract and retain talent.
“For this reason, the area maintains the most expensive rents per square foot in suburban New Jersey. We’re pleased to have negotiated a deal that allowed Boll & Branch to seamlessly relocate their headquarters while ensuring a premium rent price for our client.”
In a news release, NKF said One Prospect Street was built some 60 years ago but recently underwent a total renovation, creating a freestanding office building with modern interiors, a brick façade, an on-site fitness center and ample parking.
“NKF had the market experience and expertise to find us a high-quality tenant that would fulfill our goal of full-building occupancy,” said Alan Meades, president of The Heller Group. “We welcome Boll & Branch as they make One Prospect Street their new home. By providing the space to adequately accommodate the company’s growing workforce, One Prospect Street will be able to support the Boll & Branch’s workplace culture and business needs for years to come.”