Manulife U.S. Real Estate Investment Trust on Thursday said it entered a strategic partnership with Flex by JLL for the upcoming launch of the 15,407-square-foot flex office and coworking space at 500 Plaza Drive in Secaucus.
This opening will mark the first official ground-up Flex by JLL space to come to market in the U.S.
Its location within 500 Plaza Drive, an 11-story office property situated within Harmon Meadow, offers tenants a variety of on-site amenities and provides convenient access to the New Jersey Turnpike, Route 3 and surrounding hotels, restaurants and retail.
The Flex by JLL space will offer flexible private offices, coworking space, meeting rooms, team suites and virtual offices to organizations and residents in the region. The space includes ergonomic furniture, Tier 1 fiber broadband internet access, interactive client portals to book meeting rooms digitally, an on-site hospitality team and state-of-the-art audio-visual equipment.
“We are excited for our new Flex by JLL location at 500 Plaza,” Jacob Bates, head of Flex by JLL, stated. “This location will include both coworking space and enterprise flex suites. Completed by our Flex by JLL design team, the space will incorporate components of our evolving environments and flexible architecture design ethos, offering flex tenants and members the ability to flex the built environment to their physical needs. This partnership between MUST and Flex by JLL creates a symbiotic relationship and allows Flex by JLL to manage the flexible spaces while MUST maintains control of the space, experience, tenants and revenue.”
After the space’s opening in Q2 2023, Flex by JLL will have the opportunity to lease an additional 20,451 square feet in two phases within the year.
“We believe Flex by JLL to be the ideal operator for MUST to partner with at this stage, given the existing relationships between the two parties spanning facility management, capital markets brokerage, leasing and development services. We believe this partnership will generate accretive, risk-adjusted returns that are superior to the alternative of pursuing traditional leases in the space,” said Tripp Gantt, CEO of Manulife U.S. REIT.