Full service real estate company The Heller Group and global commercial real estate advisory firm Newmark Knight Frank (NKF) are pleased to announce the full-building lease of One Prospect Street in Summit, New Jersey. The three-story, 23,000-square-foot office building will serve as the new headquarters of Boll & Branch, leading e-commerce designer and retailer of sustainably-sourced luxury home goods. An NKF team led by Senior Managing Director Kevin Murphy and Vice Chairman David Simson represented the property owner, The Heller Group. Jeff Heller of the firm Avison Young represented the tenant.
Located within walking distance of NJ Transit’s Summit Train Station, One Prospect Street provides Boll & Branch employees with a convenient commute back and forth from Manhattan and Hoboken. An on-site dedicated parking lot and easy access to Routes 24 and Interstate 78 make the location a convenient option for driving commuters as well.
“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,” said Simson. “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,” said Alan Meades, president of The Heller Group. “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.”
Originally constructed about 60 years ago on a 1.34-acre lot, One Prospect Street has recently undergone a total renovation to create a freestanding office building that boasts modern interiors, a brick façade, an on-site fitness center and ample parking.
About Newmark Knight Frank
Newmark Knight Frank, operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
About Boll & Branch
Boll & Branch is a vertically integrated, socially conscious provider of ultra-premium home textiles made from 100% GOTS-certified organic cotton in Fair Trade-certified mills. Offering luxury linens direct to the consumer online, Boll & Branch cuts out the middleman and high retail markup to provide the highest quality products at the best value. Founded in 2013 because everyone deserves a good night's sleep—from the customer to the farmer and textile worker—Boll & Branch is a private company headquartered in New Jersey. For more information, visit www.bollandbranch.com.
About The Heller Group
The Heller Group is a full-service real estate company. Its core business is to develop, own and manage community-based shopping centers and office buildings in New Jersey. In addition, the Heller Group offers real estate consulting and management services to a select group of clients.
The Heller Group’s business philosophy is simple:
- Develop attractive properties that are focused within local communities.
- Maintain properties appropriately and well.
- Treat tenants and vendors with respect and dignity.
- Retain properties for their long-term viability and growth.
The Heller Group is a values-driven company where integrity, ethical conduct and good citizenship guide how we operate. The Heller Group is family owned and is proud to have its fourth generation of Heller involved in the company. For further information, visit www.hellergroup.com
