A rendering of 1000 Maxwell Lane in Hoboken — Courtesy: Toll Bros. City Living/Transwestern
By Joshua Burd
Construction is underway at the final piece of major mixed-use development in uptown Hoboken, where plans call for more than 100,000 square feet of office space alongside retail and luxury condominiums.
The tower, located at 1000 Maxwell Lane, will be the fourth phase of a joint venture of Toll Bros. and Pinnacle Downtown, which have spearheaded the Maxwell Place development over more than 15 years, according to a news release. The office component, which is being marketed by Transwestern Commercial Services, represents a first for the development and will provide a rare offering for companies seeking new space in the city.
“Maxwell Place is a unique project that brings diversity to the Hoboken waterfront, and 1000 Maxwell Lane is an important final component of the project,” said Henry L. Waller, vice president of Toll Bros. City Living. “Being the first speculative office development built during the current market cycle, 1000 Maxwell Lane is a distinctive mixed-use project meeting the needs of Hoboken’s growing community of entrepreneurs, new ventures and tenants in the technology, advertising, media and information industries.”
The office space will total 110,800 square feet and span six stories within the tower, the news release said. Meantime, the property at 11th Street and Maxwell Lane will include additional street-level retail and five stories of condominiums.
Its development and leasing team touted the opportunity to join a well-known development, which already includes 755 units, a waterfront park and a diverse mix of retail. The neighborhood is also steps from direct ferry service to Manhattan and a short walk from Stevens Institute of Technology.
“Toll Brothers City Living saw the need for creative office space in Hoboken, where the market currently has an emphasis on the needs of more traditional tenants,” said Transwestern Managing Director Matt McDonough, who leads the leasing team. “With the distinct and technologically advanced space at 1000 Maxwell Lane, Toll Brothers is creating a greater balance in the Hoboken office market, with spaces catering to the booming number of TAMI companies and innovative start-ups on New Jersey’s Gold Coast.”