Waterfront Corporate Center on River Street in Hoboken — Courtesy: SJP Properties
By Joshua Burd
SJP Properties has signed a new 111,000-square-foot lease with Unilever that will bring the consumer goods giant’s U.S. headquarters to the Hoboken waterfront.
According to the real estate firm, Unilever will occupy three full floors at its Waterfront Corporate Center I property at 111 River St. That means the maker of Dove, Hellmann’s, Vaseline and a host of other products will relocate its front office from its longtime home in Englewood Cliffs, a move slated for next spring, after redesigning and unveiling the 325,000-square-foot facility to great fanfare in 2018.
CBRE’s Greg Barkan, Robert Norton, Nick Nemeth, Bill Mooney and Doug Holowink represented the tenant, which reportedly will maintain its research & development division in Englewood Cliffs.
“Unilever made a strategic decision to relocate their North American headquarters to the New Jersey waterfront from Englewood Cliffs to gain a competitive edge in accessing the vast labor pool in New York City and the surrounding metro area while retaining existing talent with easy access to Bergen County,” said Alexander Erdos, SJP’s senior vice president for leasing and development. “Strength of ownership, ability to execute a competitively priced, high-quality tenant buildout and best-in-class operations were significant factors in the company’s decision to relocate to 111 River Street. Further, Hoboken offers a walkable, safe, transit-oriented experience that tenants desire across all markets.”
Located steps from Hoboken Terminal, Waterfront Corporate Center I is among three buildings within SJP’s master-planned, 1.5 million-square-foot office and retail development along the Hudson River. Unilever will join several other blue-chip tenants at the complex, including consumer goods companies such as Lipton, Walmart and Newell Brands.
SJP Project Solutions, a division of SJP Properties, is serving as the project and construction manager and will provide a custom buildout for the tenant.
