The headquarters lease renewal signed in July by publisher John Wiley & Sons Inc. (NYSE: JWA) totaling 386,407 square feet at 111 River St. in Hoboken, NJ ranks as the largest office lease for the third quarter in the Northern New Jersey market.
Wiley's lease renewal just edges another Hudson Waterfront lease renewal, JPMorgan Chase's re-up in Newport Office Center 7 for the quarter's top office lease.
Other office leases rounding out the top five for the quarter include United Water's lease for 116,360 square feet in Mack-Cali Centre 6 in Paramus; TRAC Intermodal's deal for 80,273 square feet in Princeton; and Open Text Corp.'s lease for just over 45,000 square feet in Tinton Falls.
Wiley's new lease, originally set to expire in 2017, now extends the tenant's commitment to the building through March 2033.
"111 River Street is one of New Jersey Waterfront’s most visible and accessible addresses with dramatic views of Lower Manhattan, the Hudson River and the New York Harbor," commented David J. Goldstein, executive vice president of Savills Studley. "This transaction reaffirms the strength of Hoboken’s office market, as well as Wiley’s commitment to the dynamic city of Hoboken and the state of New Jersey.”
Mitchell Steir, David Goldstein, Matthew Barlow, Daniel Foley, and Jason Perla with Savills Studley represented the tenant in lease negotiations. David Hollander, Greg Tosko, and Nick Hilton with CBRE represented the landlord, a subsidiary of Equity Commonwealth. John Wiley & Sons’ 386,000-SF Renewal Tops Among Q3 Office Deals
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Publisher John Wiley & Sons re-ups for 386K sf in Hoboken