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JLL secures child care center expansion at The Shipyard in Hoboken

NJBIZ - 2/7/2020

JLL on Monday said CresthillAcademy completed a 15-year lease transaction for7,096 square feet of ground-floor retail space at the North Constitution apartment building in Hoboken.
Located at 1300 Frank Sinatra Drive N., the child care center's lease of retail expansion space is housed within the mixed-use residential and retail development projectalong the waterfront known as The Shipyard, which is owned by Ironstate Development Co.Cresthill Academy already occupies space at theadjacent 1330 Sinatra Drive N.
Ironstate Development was represented in-house by Jesse Munoz, retail commercial manager, and by Blake Shanaphy, associate, with JLL. The tenant was represented in-house.
“Ironstate Development was able to provide Cresthill Academy with enough space to just about double its occupancy at The Shipyard,” said Shanaphy. “The larger premises space will allow the organization to offer a wider variety of products and services, and the contiguous space made this expansionary projectvery convenient for both tenant and landlord. Cresthill Academy is keeping the commercial-grade kitchen that was part of McCloone’s Boathouse, the restaurant that previously occupied the new space. The child care provider plans to provide healthy, precooked prepared meals for busy parents and children.”
The 13-story North Constitution was designed by DeWitt Tishman Architects LLP and constructed in the late 1990s into the 2000s. The multifamily property features 170 luxury condominiums with one-bedroom layouts, two-bedroom floor plans, and three-bedroom residences.
The North Constitution sits in the heart of Hoboken’s most coveted neighborhood. It has views of the Hudson River, New York Harbor and the Manhattan skyline.

CREDIT: Linda Lindner