Real estate firm Faropoint has relocated and expanded its headquarters, just across the street at Waterfront Corporate Center I in Hoboken, according to a Friday announcement from Cushman & Wakefield, which arranged the deal.
The data-driven industrial real estate asset manager will occupy 18,603 square feet of space on the Class A office building’s 10th floor, located at 111 River St.
Faropoint previously occupied space at 5 Marine View Plaza in Hoboken, but, as the firm continues to expand its footprint in the state, the Hoboken waterfront provided everything it needed.
“We more than doubled our space moving across the street to the Waterfront Corporate Center. In the past two years the headcount in our Hoboken headquarters increased measurably and coupled with the resurgence of in-person office culture and attendance, the move was inevitable, “Itay Ron, senior vice president, Northeast Markets at Faropoint told ROI-NJ.
“The Waterfront Corporate Center was a perfect fit for Faropoint,” Cushman & Wakefield’s David DeMatteis said.
DeMatteis, together with Mina Shehata, represented the tenant in the transaction.
“Situated on the Hoboken waterfront, the property provides exceptional Hoboken terminal transit access along with high-performing and efficient workspace,” he added.
Waterfront Corporate Center I is a 14-story, 566,215-square-foot office and retail asset that is part of a three-building, 1.5 million-square-foot megacomplex. The building features on-site dining options, a fitness center and 180-degree views of the Manhattan skyline.
The property is a short walk from the Hoboken Terminal, which provides New Jersey Transit train lines, Hudson Light Rail, bus and ferry services and direct PATH access to Manhattan. The property is located within a short drive from the Holland and Lincoln tunnels and the New Jersey Turnpike. The asset also benefits from its location along the Hudson River steps from Hoboken’s thriving downtown community.