Signature Acquisitions has signed a full-building lease with Party City Holdings, Inc. at 100 Tice Boulevard, a 208,911 s/f Class-A office building in Woodcliff Lake, N.J.
The building will become Party City’s new global headquarters beginning in 2022.
Ben Brenner of Cushman & Wakefield and Harlan Hollander of Savills represented Party City and Joe Sarno, Sr., Jon Meisel and Jeff Babikian of CBRE represented Signature Acquisitions in the transaction.
Originally founded in East Hanover, N.J. Party City is the largest retailer of party goods in the United States, Canada and Mexico. For many years, the company’s headquarters operations were spread across two offices in Rockaway and Elmsford, N.Y. As the company sought to consolidate its headquarters operations, Woodcliff Lake and the surrounding Upper Parkway submarket’s strong underlying fundamentals made it stand out among competing areas in N.J. and N.Y.
Historically home to many Fortune 500 companies and currently housing headquarters locations for KPMG, BMW and Benjamin Moore as well as a diverse slate of residential, retail and entertainment options, the area is quickly emerging as one New Jersey’s most in-demand mixed-use submarkets.
With its move to 100 Tice Boulevard, Party City will be able to move its headquarters to one location in the Tri-State area and tap into the dynamism of the surrounding area as it looks to attract and retain top talent in the years ahead.
Located less than one mile from the Garden State Parkway and five miles from Interstates 87 and 287 in the prestigious borough of Woodcliff Lake, N.J., 100 Tice Boulevard is a three-story, 208,911 s/f Class-A office building that was acquired by Signature Acquisitions in 2019.
The building’s proximity to the N.J./N.Y. border provides the company’s current employees with added convenience and accessibility while expanding its reach to attract additional top talent.
Party City will take advantage of the New Jersey Economic Development Authority’s (NJEDA) Emerge program award to fund major capital improvements at the building that will create a collaborative workplace geared to the needs of the growing company and its employee base. The Emerge Program awards are calculated on an annual per job basis, with base credits for new jobs ranging between $500-$4,000 per job depending on project location and other aspects of the project.
“Our focus on acquiring best-in-class suburban office spaces and maintaining them to the highest standards has consistently created one-of-a-kind corporate destinations geared towards the needs of companies today,” said Rich Travaglini, Senior Vice President/Director of Leasing for Signature Acquisitions.
“Party City’s return to New Jersey exemplifies our portfolio’s continued deep appeal to a wide range of companies hoping to tap into all that makes the Tri-State area unique. We welcome Party City back to Garden State and we look forward to working with them to create a dynamic workplace that will foster the collaboration and creativity necessary for continued growth.”
