KBS Completes Lease Expansion for Michael Kors (USA) Inc. at One Meadowlands Plaza
By Mel Fabrikant Friday, January 04, 2013, 12:11 PM EST
KBS Capital Advisors, an affiliate of KBS Realty Advisors, today announced that fashion designer Michael Kors (USA) Inc. has signed a lease expansion totaling 12,336 sq. ft. at One Meadowlands Plaza, a 422,000-sq.-ft., Class A trophy asset located in the heart of the Meadowlands submarket. In 2011, Michael Kors signed a 31,000-sq.-ft. lease for the entire 12th floor and relocated its New Jersey operations from Secaucus.
“We believe Michael Kors chose to expand at One Meadowlands Plaza because it is much more than just a place to work, and provides them with an environment where the brand can truly grow,” said Randi Kaufman, Senior Vice President, Asset Management at KBS. “Tenants gain a prestigious location at a prominent Garden State address with magnificent views, superior access to mass transit and a myriad of services and amenities to create a more productive working atmosphere.”
The CBRE leasing team of Patrick Murphy, vice chairman; Greg Barkan, senior vice president; Donald M. Sperling, senior vice president; Robert Norton, senior associate; and Supriya Kota, client services specialist, represented the landlord, KBS. Cushman & Wakefield Executive Director Edward Duenas and Director Marc Graham represented Michael Kors.
“One Meadowlands Plaza has positioned itself as one of the premiere North Jersey office locations,” said CBRE’s Mr. Barkan. “Existing tenants see the importance of expanding their operations in the building, and potential tenants appreciate the significance of relocating their offices here.”
KBS Capital Advisors, a leading real estate investor and asset manager, purchased the East Rutherford property in 2011 on behalf of KBS REIT II, a non-listed real estate investment trust. The trophy-quality property, which is also known as Metropolitan Center, has received LEED Gold Certification, a 2012 Energy Star Rating and was a 2012 TOBY award winner. It features countless Class-A amenities, including covered parking, cafeteria, complimentary fitness center, video tele-conference center, on-site dry cleaning, car wash and on-demand shuttle bus service to Secaucus Junction train station and local area restaurants and shops. The building overlooks the new MetLife Stadium, home of the New York Giants and New York Jets, and the forthcoming American Dream at the Meadowlands shopping and entertainment complex, and is adjacent to the Sheraton Meadowlands Hotel and Conference Center.