ENGLEWOOD CLIFFS, NJ—Mesirow Financial has acquired the Unilever North American Headquarters located in Englewood Cliffs, NJ, from its current developers OVG Real Estate and Normandy Real Estate Partners. Mesirow paid $102.6 million, or $264 per square foot of office space for the property, according to Real Capital Analytics, a proprietary research database.
OVG and Normandy are substantially redeveloping the 22.85-acre property, which includes a 321,000-square-foot office building on the property across the Hudson River from New York City. The project is expected to be completed by the fourth quarter. Unilever has a long operating history at this location, dating back to the mid-1960s, and has reaffirmed its commitment to the location by committing to an 18-year lease with multiple options to extend.
As previously reported by GlobeSt.com, at completion, Unilever's North American Headquarters aims to be one of the most energy-efficient and technologically advanced corporate facilities on the East Coast.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
