Vonage Headquarters, 23 Main St., Holmdel, NJ

HOLMDEL, NJ—Vonage Holdings has renewed the lease of its 350,000-square-foot facility in Holmdel, NJ with Mack-Cali Realty Corporation, which owns the 88-acre campus at 23 Main Street.

Cushman & Wakefield's Vonage relationship lead, Ken Ashley, based in Atlanta, worked on the transaction with Paul Giannone and Harlan Hollander of the company's Edison and East Rutherford, NJ, offices. Ben Pugh and Maureen Kelly of Cushman & Wakefield's Corporate Finance & Investment Banking practice provided executive decision support and financial advisory services. Christopher DeLorenzo served as in-house representative for Mack-Cali during negotiations.

“This transaction represents one of New Jersey's largest recent leases, but its significance goes much further,” Giannone says. “Vonage is a major communications company that has chosen to remain and grow in the state. This reflects the region's appeal for high-tech employers – punctuated by its proximity to Manhattan, access to a deep skilled labor pool and a high standard of living.”

According to Ashley, Vonage decided to renew the lease based on the terms offered by Mack-Cali and the business environment in New Jersey. “We conducted an exhaustive, multi-state search of all possible alternatives,” he said. “Vonage ultimately decided to come right back home to Holmdel.”

The class A building, set on an 88-acre site, will remain Vonage's corporate headquarters until 2023 under the terms of the lease. Vonage initially moved its headquarters to the building in 2005, and its lease was originally scheduled to expire in 2017. The campus is home to more than 700 Vonage employees.

Additionally, the Holmdel campus provides superior convenience and commuting options for employees. There is easy access to Manhattan via ferry or train. Close proximity to New York City is a key amenity for companies like Vonage who are seeking to attract talented employees who value a prime location. There is abundant parking, direct access to Route 34 and convenience to the Garden State Parkway.

HOLMDEL, NJ—Vonage Holdings has renewed the lease of its 350,000-square-foot facility in Holmdel, NJ with Mack-Cali Realty Corporation, which owns the 88-acre campus at 23 Main Street.

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Vonage Staying in Holmdel HQ Until 2023

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