LYNDHURST, NJ-KnowledgePoint360 Group LLC recently signed a long-term 59,354-square-foot headquarters lease at SL Green Realty Corp.’s 125 Chubb Ave. here, part of Skyline Corporate Center. Considered the largest intra-Meadowlands submarket transaction of 2010, and one of the largest completed since Barnes and Noble signed a 29,861-square-foot lease at the same building in 2008. KnowledgePoint360 will relocate from its current headquarters at 150 Meadowlands Parkway in Secaucus, NJ. The move is scheduled for the third quarter of 2011.

CB Richard Ellis’ Gregory Barkan and SL Green’s Clark Briffel represented SL Green, while Cushman & Wakefield’s Ed Duenas and Mark Graham co-brokered the transaction for the tenant with Jonathan Varholak and Michael Joyce of Richards Barry Joyce & Partners.

“Due to the significant amount of capital required, larger headquarter relocations are rare these days,” John Barnes, senior vice president and senior director of SL Green, tells Globest.com. “This transaction, much like Barnes and Noble, is a testament to the quality of the real estate our firm delivers.” He adds that among the factors driving the transaction are the building’s recent multi-million dollar renovation, which includes a state-of-the-art HVAC system, a food/fitness center and a new landscaping design, among others.

According to Barkan, “This transaction continues to demonstrate the trend in New Jersey that top quality, well-located, modern generation assets will lease, while lesser quality, commoditized ones will continue to languish. Today’s sophisticated corporate tenants desire these types of environments to attract and retain the best talent possible.”

KnowledgePoint360 Group will occupy the entire fourth and fifth floors of the office complex’s south wing. The 287,500-square-foot building consists of two five-story wings, connected by a glass-enclosed atrium. KnowledgePoint operates 10 other offices in the United States and Europe.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.