Addition of Newell HQ brings Hoboken complex to full occupancy

Joshua Burd//May 13, 2016//

Addition of Newell HQ brings Hoboken complex to full occupancy

Joshua Burd//May 13, 2016//

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The third and final office tower in a mixed-use redevelopment of Hoboken’s waterfront has reached full occupancy, thanks to the newly announced relocation of Newell Brands Inc.In a news release Friday, SJP Properties announced its lease with the consumer goods company, which is taking 100,000 square feet at Waterfront Corporate Center III. Word of the deal follows the Economic Development Authority’s approval of a $27 million tax credit to support the company’s consolidation into the city and its pledge to bring 300 new jobs to the state.

The 500,000-square-foot building, at 221 River St., is the last piece of a mixed-use business center developed by SJP in partnership with USAA Real Estate Co. Its anchor tenant, Pearson Education, moved into the space last year and tenants such as Jet.com, NICE Systems, Thomson Reuters and Regus have followed suit to bring it to full occupancy in just about 12 months.

Jeffrey Babikian and David Opper, CBRE executive vice presidents, represented Newell Brands in the transaction, the news release said. The new headquarters will serve as a business hub for Newell Brands’ executive team, select corporate functions and its “Transformation Office,” as well as a second hub for advanced design and expanded e-commerce activities.

“Our vision for Waterfront Corporate Center to serve as the premier business center along the Hudson River waterfront has been realized,” Steven J. Pozycki, CEO of SJP Properties, said in a prepared statement. “Newell Brands joins a prestigious list of leading-edge companies that are positioning themselves for long-term success by locating within a state-of-the-art building that offers direct access to one of the country’s strongest labor markets, as well as Hoboken’s unparalleled transportation, shopping, dining and entertainment options.”

Waterfront Corporate Center III also has retail space that has attracted tenants such as Del Frisco’s Grille at Waterfront Corporate Center III. In building the complex, SJP has seized on Hoboken’s residential base, connection to mass transit and proximity to Manhattan.