(For more retail coverage, click GlobeSt.com/RETAIL.)
ISELIN, NJ-Maidenform Brands Inc. is close to finalizing a long-term lease for 67,000 sf of office space in Woodbridge Corporate Plaza, Building F. The women's undergarment manufacturer is moving its headquarters from Bayonne, where the company was founded in 1922 and previously operated its manufacturing.
Maidenform is taking two and a half floors at the 485 Route 1 South building by the Metropark train station. A source familiar with the deal tells GlobeSt.com that the new space is much more modern than Maidenform's current location at 154 Ave. E in Bayonne, a property the company owns. Maidenform hasn't announced if it is in the market to sell its Bayonne property.
Drew Persson, first vice president of the GVA Williams New Jersey, Parsippany represented the ownership of Woodbridge Corporate Plaza, KBS Realty Advisors. Mike Maroon, principal of the Acclaim Group, represented Maidenform. Space in Woodbridge Corporate Plaza is currently advertised at $23.50 gross plus electric, and the source confirms that Maidenform signed at a better rate than that. The company is looking to make the move by the end of the first quarter of 2007.
The Bayonne location was an older outdated facility compared to its new Metropark space, which the source calls "a preferred location. They have officers from their company that come from all locations and can make great use of the rail at the facility."
With this lease, Building F is now 100% leased. Overall, the deal brings the six-building, 625,000-sf Woodbridge Corporate Plaza up to 90% occupancy.
Maidenform went public with an IPO last summer.
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