Suzanne Macnow, CBRE first vice president, is handling the assignment with CBRE colleagues John Kaye and Adam Englander. Besides the 66,000 sf the assignment also includes some 5,000 sf of ground-floor retail space.
Despite reducing its occupancy to one floor, Hovnanian is still expanding its presence here. Red Bank Corporate Center is rising just across the street from the homebuilder's new world headquarters building, where it relocated just this past year from its long-time Middletown, NJ location.
"We are very excited with the expansion of our presence in Red Bank," says president/CEO Ara Hovnanian in a prepared statement. A spokesman declined further comment on the reduced occupancy.
As reported by GlobeSt.com, Hovnanian's full-building, triple-net, 10-year lease signing in March sparked construction of the building, which had been in the works for several years by the West Long Branch, NJ-based PRC Group. With site cleanup done and permits finally in place, PRC brought in Mack-Cali Realty Corp. as a development partner a year ago and started actual construction after signing the homebuilder.
Besides the main building, the build-out of Red Bank Corporate Center also calls for an 18,500-sf office building. The site plan also includes a four-level, 339-car parking deck on the 3.4-acre Downtown site. The building is expected to be ready for tenant fit-up in May, Macnow says.
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