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Event Marks Completion of Mixed-Use Project’s Flagship Office Building
MONTVALE, N.J., May 21, 2021 – The S.Hekemian Group hosted a grand opening this month for Workplace North Market, the flagship office building at North Market, a mixed-use district under development on the former campus of the Mercedes-Benz USA North American headquarters in Montvale. Local officials, members of the commercial real estate community, and other key stakeholders affiliated with the project attended the intimate outdoor event.
The program included a formal ribbon cutting ceremony, with comments by Montvale Mayor Michael Ghassali and Planning Board Chairman John DePinto, and Peter Hekemian, senior managing director of The S.Hekemian Group.
“This marks an exciting day in the ongoing evolution of North Market,” Hekemian said. “Our Workplace building is truly something special and innovative in Bergen County – and anchors North Market’s modern, one-of-a-kind walkable urban setting in a suburban community. In it, we have established a place where businesses can thrive, surrounded by an eclectic neighborhood of eateries, experiences, shopping and lifestyle services.”
The North Market master plan combines office, retail, luxury apartments and a boutique hotel on the former Mercedes-Benz site, also incorporating The Farm (The Shoppes at DePiero Farm), an adjacent, highly successful project by The S.Hekemian Group. Opened in 2017, The Farm includes a variety of retail tenants and is anchored by Bergen County’s first Wegman’s supermarket location.
“There is a lot of pride in Montvale, and this is the crown jewel of our community,” DePinto said. “It exemplifies what the borough feels, believes and is dedicated to. While other communities have suffered the loss of a major tenant leaving, Montvale worked cooperatively with the developer to come up with a solution that works for the 21st century. Big office buildings with big tenancy are no longer the norm. We must be more creative in our approach to planning and zoning.”
The 52,000 square foot Workplace North Market sits at 200 Market Street, between two luxury multifamily/retail buildings currently under development. The four-story structure houses 40,500 square feet of office space on the second through fourth floors, and 11,500 square feet of ground-floor retail. The building pairs dynamic contemporary architecture and loft ceiling heights with visually desirable materials — corrugated metal, plate glass windows, exposed ceilings and more. Outside, a shared plaza featuring hardscaped and landscaped elements encourages social and collaborative gathering.
“This is a functional live, work and shop space that is going to be the hub of the region,” Ghassali added. “Although it took several years to get to this point, we already are reaping the benefits with more businesses and corporations attracted to Montvale. I take pride in this project; it is what’s best for the community, the tax base, the job market and for the convenience it brings to our residents.”
Already, law firm Beattie Padovano LLC has relocated its offices to Workplace North Market, having pre-leased 20,000 square feet in early 2020. According to Hekemian, interest in Workplace North Market remains strong, with additional tenant contracts in process.
“As our anchor tenant, we are honored that Beattie Padovano bought into our vision,” Hekemian said. “Businesses and retailers alike are being drawn by this property’s promise of ‘experience’ and a sense of neighborhood that you simply cannot find elsewhere in the suburbs. Add to that stellar accessibility just off Exit 172 of the Garden State Parkway – in the heart of one of the strongest markets in the New York metropolitan area – and this district has a strong future as a preferred destination for life, work and play.”
PHOTO CAPTION: (L-R) Montvale Council members Annmarie Russo-Vogelsang and Dieter Koelling; Douglas Cohen, vice president, business and legal affairs/general counsel, The S.Hekemian Group; Martin W. Kafafian, member, Beattie Padovano LLC; Peter Hekemian, senior managing director, The S.Hekemian Group; Montvale Mayor Michael Ghassali and Planning Board Chairman John DePinto; and Antimo A. Del Vecchio, member, Beattie Padovano LLC.
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