March 22, 2018
HOBOKEN, N.J. – Transwestern today announces it has been retained to provide leasing services for 125,000 square feet of planned office space at 1000 Maxwell Lane, the final building located in Toll Brothers’ heralded mixed-use development at historic Maxwell Place. Transwestern’s Matt McDonough, Managing Director, is leasing the property.
Toll Brothers City Living will break ground this summer on the 12-story building being developed at the intersection of 11th Street and Maxwell Lane in uptown Hoboken. Maxwell Place currently includes three luxury residential towers comprising 755 units, a waterfront park, and diverse retail – all with unrivaled views of the Manhattan skyline. The project takes the next step in its evolution into a true live/work/play enclave with the addition of 1000 Maxwell Lane, which will include additional street-level retail, seven stories of state-of-the-art office, and five stories of elegant condominiums.
“1000 Maxwell Lane is an innovative project in many ways,” said Henry L. Waller, Vice President of Toll Brothers City Living. “In addition to being the first speculative office project during the current market cycle, the unique layout represents a fresh, thoughtful and integrated approach to meeting the distinct development needs of uptown Hoboken. Hudson County has a booming community of entrepreneurs, new ventures and TAMI tenants that has grown to the point where we need more office space with the latest technology and a vibrant lifestyle.”
In addition to the opportunity to recruit and retain top talent with the allure of high-function workspace designed to spur creativity and collaboration, office tenants of the new building will benefit from a premier location in the sought-after uptown Hoboken neighborhood with direct ferry service to Manhattan. The location near Stevens Institute of Technology also gives tenants easy access to one of the premier engineering and technology leaders on the East Coast.
“With a Class A office vacancy rate around 3.5 percent, the creative office space that exists in Hoboken today is highly inefficient, while the balance of the office space on the market is more corporate,” said McDonough. “With these modern and efficient workspaces at Maxwell Place, Toll Brothers City Living is creating a new opportunity to meet pent-up demand from the growing number of new innovators and existing TAMI companies on the New Jersey waterfront.”
Maxwell Place is situated adjacent to the 14th Street NY Waterway ferry terminal, approximately 1 mile from the Lincoln Tunnel entrance and Route 495, which provides access to the New Jersey Turnpike as well as Routes 3, 1 and 9. Multiple public transportation options are available in the area including the Hudson-Bergen Light Rail, PATH trains, NJ Transit lines, and NY Waterway.
Transwestern is a privately held real estate firm of collaborative entrepreneurs whodeliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the New Jersey office, follow @TranswesternNJ.