100 Tice Blvd. in Woodcliff Lake — Courtesy: Signature Acquisitions
By Joshua Burd
The owner of a Woodcliff Lake office building has detailed its new lease with Party City’s parent company, which will bring its headquarters to the property in 2022.
According to the landlord, Signature Acquisitions, the party goods retailer will occupy the entirety of the 208,911-square-foot complex at 100 Tice Blvd. starting in 2022. The deal will allow it to consolidate operations that were spread across two buildings in Rockaway and Elmsford, New York, thanks in part to a nearly $10 million tax credit under the state’s Emerge incentive program.
Cushman & Wakefield’s Ben Brenner and Harlan Hollander of Savills represented Party City Holdings Inc., while Joe Sarno Sr., Jon Meisel and Jeff Babikian of CBRE represented Signature Acquisitions in the transaction.
“Our focus on acquiring best-in-class suburban office spaces and maintaining them to the highest standards has consistently created one-of-a-kind corporate destinations geared towards the needs of companies today,” said Rich Travaglini, senior vice president and director of leasing for Signature Acquisitions. “Party City’s return to New Jersey exemplifies our portfolio’s continued deep appeal to a wide range of companies hoping to tap into all that makes the tristate area unique. We welcome Party City back to Garden State and we look forward to working with them to create a dynamic workplace that will foster the collaboration and creativity necessary for continued growth.”
Originally founded in East Hanover, Party City is the largest retailer of party goods in the U.S., Canada and Mexico. It will join a host of other Fortune 500 companies in northern Bergen County, a submarket that has rebounded in recent years after several major corporate relocations.
The Tice Boulevard building is less than a mile from the Garden State Parkway and five miles from interstates 87 and 287. Signature Acquisitions acquired the three-story building in 2019, noting that Party City will leverage its state incentive award to fund major capital improvements at the site and construct a modern workplace.