ENGLEWOOD CLIFFS, NJ—Unilever has selected OVG Real Estate and Normandy Real Estate Partners to spearhead the sale, redevelopment and expansion of its 325,000 square-foot North American headquarters at 700 Sylvan Avenue in Englewood Cliffs, NJ. The agreement provides that upon closing, the land and the building will be leased back to Unilever on an 18-year triple-net lease. The transaction is expected to close before the end of the year.

The 23-acre campus located along the Hudson River, just outside of New York City, has been a Unilever corporate office for over five decades. The construction of the sustainable retrofit marks the onset of a significant makeover resulting in one of the most intelligent, energy-efficient and highly advanced corporate facilities on the East Coast. The new campus will have its substantial completion in the fourth quarter of 2017.

“We're very excited about transforming and extending our headquarters, to truly reinforce the Unilever Sustainable Living Plan,” says Kees Kruythoff, president of Unilever North America. “This redevelopment is very much about improving the well-being of our people by providing them a healthy and productive work environment, while also reducing our environmental impact and helping increase the growth of our business. Partnering with OVG and Normandy on this project was the right choice for us. OVG's credentials in creating sustainable, high-tech and smart spaces are unmatched and their vision to enhance overall quality of life for people is very much in line with our own. Combined with Normandy's strong development, construction and operating expertise and deep relationships in the region made for the perfect partner for Unilever for this project.”