Mesirow Acquires Unilever's North American HQ in Englewood Cliffs, NJ for $103M

Unilever North America Headquarters, 700 Sylvan Avenue, Englewood Cliffs, NJ

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.