The Heller Group and Newmark Knight Frank jointly announced Thursday they have brokered a full-building lease at One Prospect Street in Summit.
The three-story, 23,000-square-foot office building will serve as the new headquarters for Boll & Branch, a e-commerce designer and retailer of luxury home goods.
Kevin Murphy, managing director at NKF, and David Simson, vice chairman, represented the property owner, The Heller Group, in the deal. Jeff Heller of Avison Young represented the tenant.
The property is within walking distance to NJ Transit’s Summit train station and near Route 24 and Interstate 78.
“The Heller Group’s property at One Prospect Street offered the largest block of commercial space currently available in Downtown Summit, a historically coveted location among North Jersey-based companies for its proximity to many restaurants, shops and transportation services,” Simson said. “The live-work-play environment that Downtown Summit offers goes a long way in helping companies attract and retain talent. For this reason, the area maintains the most expensive rents per square foot in suburban New Jersey. We’re pleased to have negotiated a deal that allowed Boll & Branch to seamlessly relocate their headquarters while ensuring a premium rent price for our client.”
“NKF had the market experience and expertise to find us a high-quality tenant that would fulfill our goal of full-building occupancy,” Alan Meades, president of The Heller Group, said. “We welcome Boll & Branch as they make One Prospect Street their new home. By providing the space to adequately accommodate the company’s growing workforce, One Prospect Street will be able to support the Boll & Branch’s workplace culture and business needs for years to come.”