JLL has completed a new transaction for Cresthill Academy at the North Constitution apartment building, located at 1300 Frank Sinatra Drive North within the mixed-use residential and retail development project known as The Shipyard complex along the Hoboken, N.J., waterfront with building owner Ironstate Development Co. The child care center signed a lease for 7,096 square feet of retail expansion space at The Shipyard, while continuing to occupy its original space at the adjacent 1330 Sinatra Drive North.
Building owner Ironstate Development, was represented in-house by Jesse Munoz, retail commercial manager, and by Blake Shanaphy, associate, with JLL. The tenant was represented in-house.
“Ironstate Development was able to provide Cresthill Academy with enough space to just about double its occupancy at The Shipyard,” said Shanaphy. “The larger premises space will allow the organization to offer a wider variety of products and services, and the contiguous space made this expansionary project very convenient for both tenant and landlord. Cresthill Academy is keeping the commercial grade kitchen that was part of McCloone’s Boathouse, the restaurant that previously occupied the new space. The childcare provider plans to provide healthy, precooked prepared meals for busy parents and children.”
Cresthill Academy signed a 15-year lease for 7,096 square feet of ground-floor retail space at the North Constitution, situated at 1300 Frank Sinatra Drive North. The child care center is expanding into the property and will continue to occupy its original space at the adjacent 1330 Sinatra Drive North. Cresthill Academy has four other locations in Northern New Jersey.
The 13-story North Constitution was designed by DeWitt Tishman Architects LLP and constructed in the late 1990s into the 2000s. The multifamily property features 170 luxury condominiums with elegant one-bedroom layouts, two-bedroom floor plans, and three-bedroom residences.
The North Constitution sits in the heart of The Shipyard, Hoboken’s most coveted neighborhood, with breathtaking views of the Hudson River, New York Harbor and the Manhattan skyline. Residents have access to an impressive array of amenities at The Shipyard, including a fabulous waterfront park, a state-of-the-art fitness center, two rooftop pools, sun decks, children’s play areas and much more.
JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,000 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and East Rutherford, also acts as a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. JLL’s New Jersey operations were honored by NJBiz magazine as one of its 2015 Best Places to Work in New Jersey.
About Ironstate Development Co.
At Ironstate we’re about transformation. Seeing the unseen. Understanding what is possible. Uniting around a common vision and then executing with intelligence, imagination, precision, flexibility, and commitment. What may begin as an underutilized parcel of land, abandoned warehouse, long-neglected neighborhood, or contaminated industrial site becomes a living, thriving, vibrant community.
About Cresthill Academy
Founded in 2010, Cresthill Academy is the premiere child care center in New Jersey with full time and part time programs for infant, toddler, preschool and Kindergarten. Before school and after school care and summer camp programs are available at select locations.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
