Hudson Group Expands HQ to 62,000 SF

The deal was brokered for landlord ING Clarion Partners by David Stifelman, executive director at Cushman & Wakefield, which also has its main New Jersey office in the 422,000-square-foot building. Bonni Heller, also of C&W, represented Hudson Group. Besides the 10-year term, further details of the deal were not released, although availabilities in the building are listed with asking prices in a range of $28 to $35 per square foot. The 11th floor space taken by Hudson had been on the market with an asking price of $35 per sf.

"Hudson's a valued tenant," says Margaret Egan, SVP of ING Clarion. "The growth of their Hudson News brand has led to this expansion within the building and the extension of their term. Hudson had various options for their expansion space and chose to expand with us and make a long-term commitment."

The deal caps more than 78,000 square feet of leasing at the Metropolitan Center so far this year. Earlier, shipping firm Pan Oceanic Maritime took 4,853 square feet in a relocation from nearby Hasbrouck Heights. Giants Stadium LLC--the entity responsible for seat sales and allocation at the under-construction Giants/Jets stadium in the Meadowlands Sports Complex just across Route 3 from Metropolitan Center--leased 4,000 square feet; and Meadowlands Management LLC--a division of the Meadowlands Xanadu retail/entertainment complex also under construction nearby--signed a 14-month extension for 3,376 square feet.

C&W is currently shopping 108,000 square feet within the building on behalf of ING Clarion. The availability includes three full floors, two of which provide a contiguous 62,000 square feet. The building's exterior signage, long-time home of the Metromedia name, is also up for grabs. Metropolitan Center is also attached to the 427-key Sheraton Meadowlands Hotel.