Publisher John Wiley & Sons re-ups for 386K sf in Hoboken

Sam Zell’s real estate investment trust Equity Commonwealth owns property

From left: 111 River Street in Hoboken, N.J., Mitch Steir and Sam Zell
From left: 111 River Street in Hoboken, N.J., Mitch Steir and Sam Zell

International textbook publisher John Wiley & Sons signed a 15-year lease renewal for its more than 386,400-square-foot office space in Hoboken, N.J.

The company inked a deal at 111 River Street two years prior to the lease’s expiration. Sam Zell’s real estate investment trust Equity Commonwealth owns the 500,000-square-foot property. Wiley has occupied the space since it left Manhattan in 2002.

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David Goldstein, Mitch Steir, Matthew Barlow, Jason Perla and Daniel Foley of Savills Studley represented the tenant, while a CBRE Group team including Nick Hilton, Greg Tosko and David Hollander represented Equity Commonwealth.

“When you are a major user of space, you have to be ahead of the pack and have to be in a disciplined process in order to capture as many realistic relocation alternatives as possible,” Goldstein told the Wall Street Journal. [WSJ, 2nd item]Mark Maurer