Wiley Signs 386,000-SF Office Lease in New Jersey

In what will surely be the largest office lease this quarter in the Northern New Jersey market, John Wiley & Sons, Inc. (NYSE: JWA), a global digital and print publisher, has signed a 15-year lease renewal totaling 386,407 square feet of office space at 111 River St. in Hoboken, NJ.

Waterfront Corporate Center I is a 13-story, 550,000-square-foot, 4-Star office building constructed in 2002 on 2.5 acres in the Hudson Waterfront submarket. Located adjacent to the Hoboken Terminal, the office park is easily accessed by NJ Transit trains and busses, PATH service, Waterway ferries, and the new Bergen-Hudson Light Rapid Rail System.

The new lease, originally set to expire in 2017, now extends the tenant's commitment to the building through March 2033.

"111 River Street is one of New Jersey Waterfront’s most visible and accessible addresses with dramatic views of Lower Manhattan, the Hudson River and the New York Harbor," commented David J. Goldstein, executive vice president of Savills Studley. "This transaction reaffirms the strength of Hoboken’s office market, as well as Wiley’s commitment to the dynamic city of Hoboken and the state of New Jersey."

Founded in 1807, Wiley develops and markets products and solutions to a diverse customer base while publishing scholarly journals, higher education teaching materials and interactive learning tools, books including encyclopedias and the "For Dummies" series, and services and solutions in research, professional development, and education. It employs 5,500 people worldwide in 70 facilities across 28 countries. In 2002, the company relocated its corporate headquarters to the then-burgeoning Hoboken waterfront office market from 605 Third Ave. in New York City.

According to Barlow, Wiley decided to maintain its offices in Hoboken following an extensive search throughout New York and New Jersey, feeling that it would enable the firm to continue providing best-in-class services to its customers and partners.
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