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Unilever announced Monday that it will move its U.S. headquarters from Englewood Cliffs to Hoboken, taking up 111,000 square feet. SJP Properties“Seaside Corporate Center 1.”
Unilever, the world’s sixth-largest consumer products company, has signed a long-term lease for three floors at 111 River St., SJP reports. The company expects to occupy the property in spring 2025.
CBRE Representing Unilever in this move, which will be one of the largest office leases in northern New Jersey this year.
Alexander Erdos, SJP senior vice president of leasing and development, said the move makes sense on several levels.
“Unilever made a strategic decision to relocate its North American headquarters from Englewood Cliffs to the New Jersey shoreline to gain a competitive advantage and tap into the large labor pool in New York City and the surrounding metropolitan area while retaining existing talent and providing convenient access to Bergen County,” he said.
Located along the Hudson River in the Hoboken Master Plan, Waterfront Corporate Center is a three-building complex that provides 1.5 million square feet of Class A office space and has long been considered Hoboken’s premier office and retail development.
SJP Project Solutions, a division of SJP Properties dedicated to end-to-end design and construction services, will serve as the project and construction manager and provide custom construction for tenants.
Erdos said there was a lot to appreciate about the site.
“Ownership strength, the ability to execute competitive pricing, high-quality tenant build-outs, and best-in-class operations were significant factors in the company’s decision to relocate to 111 River St.,” he said. “In addition, Hoboken offers a walkable, safe, transit-friendly experience that tenants in all markets desire.”
Unilever will join a roster of tenants at the Waterfront Corporate Center that includes other leading consumer products companies such as Lipton, Walmart and Newell Brands.
Notably, the move comes seven years after Unilever moved into its current 325,000-square-foot office in Englewood Cliffs — which Unilever dubbed its “office of the future” when it opened in May 2018.
This sprawling suburban campus is environmentally friendly and ahead of its time in accommodating a mixed workforce.
It turns out it was just in the wrong place.
The move to Hoboken fits into a trend that has emerged since the pandemic began, with businesses moving to smaller office spaces in urban areas.
It’s unclear how many Unilever employees from the existing plant at 800 Sylvan Ave. will move to Hoboken, or how many days a week they will be required to work there.
Unilever officials did not immediately respond to requests for comment. This story was first reported by Daniel Munoz on NorthJersey.com.
According to NorthJersey.com, the company will continue to maintain its research and development operations in Englewood Cliffs.
A company spokesman said the company had not applied for any government incentives for the move. New Jersey Economic Development Authority explain.
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