By IvyLee Rosario
NAI James E. Hanson negotiated a 130,963-square-foot lease to bring This Is It! Productions to Lackawanna Center in Jersey City, N.J.
Located at 629 Grove St., Lackawanna Center was transformed from a railroad warehousing and distribution building into an industrial and retail complex of 1.3 million square feet. The property offers direct access to the Holland Tunnel, N.J. Turnpike, Pulaski Skyway and Routes 1, 9 and 440.
This Is It! Productions was previously based in Hoboken, N.J., but was looking for a space that offered accessibility, flexibility and affordability to accommodate its growing full-service event management, marketing and sponsorship business.
NAI Hanson’s Russ Verducci, Eric Demmers and Steve Pastor partnered with Lackawanna Center’s in-house representative Brett Weinblatt to represent the landlord, Lackawanna Warehouse Corp. of New Jersey II. Scott Maynard of Weichert Commercial represented the lessee, Lackawanna Eastern Terminus LLC c/o This Is It! Productions Inc.
“At NAI Hanson, we have witnessed a great deal of companies looking to relocate from pricier locations, such as Hoboken and Brooklyn, into the Jersey City area,” said Verducci, in prepared remarks. “This trend is powered by the affordability, location and access to a highly-educated workforce that Jersey City offers to prospective businesses. Our experience with this market and deals of this size allowed us to help bring a new business to the City while securing a valuable tenant for our client.”
Image courtesy of NAI James E. Hanson