JLL will launch its first official ground-up flex office and coworking space in the Garden State.
The firm announced Sept. 15 that Flex by JLL will occupy 15,407 square feet of space at 500 Plaza Drive in Secaucus.
JLL entered into a lease agreement with Manulife US Real Estate Investment for the space, which will offer private offices, coworking areas, meeting rooms, team suites and virtual offices at the 11-story office property located within Harmon Meadow. The work-play-stay campus offers more than 25 restaurants, nine hotels, a full-service fitness center, retail options and more with convenient access to the New Jersey Turnpike and Route 3.
Jacob Bathes, head of Flex by JLL, said the company was excited for its debut at 500 Plaza, which is slated to open in the second quarter of 2023.
“This location will include both coworking space and enterprise flex suites,” he said in a statement. “Completed by our Flex by JLL design team, the space will incorporate components of our evolving environments and flexible architecture design ethos, offering flex tenants and members the ability to flex the built environment to their physical needs.
“This partnership between MUST and Flex by JLL creates a symbiotic relationship and allows Flex by JLL to manage the flexible spaces while MUST maintains control of the space, experience, tenants and revenue,” he added.
“We believe Flex by JLL to be the ideal operator for MUST to partner with at this stage, given the existing relationships between the two parties spanning facility management, capital markets brokerage, leasing and development services,” said Tripp Gantt, CEO of Manulife US REIT. “We believe this partnership will generate accretive, risk-adjusted returns that are superior to the alternative of pursuing traditional leases in the space.”
After opening, Flex by JLL will have the opportunity to lease another more than 20,000 square feet in two phases within the year, the company said.
