Real estate and investment management services firm JLL recently announced that Flex by JLL, its enterprise-grade flexible space solution, has entered into a leasing agreement with Manulife US Real Estate Investment Trust (MUST). The 15,407-square foot flexible office and coworking space located in Secaucus, New Jersey, will be the first official ground-up Flex by JLL space to come to market in the U.S.
The Flex by JLL space will comprise flexible private offices, coworking space, meeting rooms, team suites and virtual offices to enterprises and residents in the region. The space will also include ergonomic furniture, Tier 1 fiber broadband internet access, interactive client portals to book meeting rooms digitally, an on-site hospitality team and state-of-the-art audio-visual equipment. Adjacent amenities include nearby hotels, restaurants and retail shops.
“We are excited for our new Flex by JLL location at 500 Plaza,” Jacob Bates, Head of Flex by JLL, said in a statement. “This location will include both coworking space and enterprise flex suites. Completed by our Flex by JLL design team, the space will incorporate components of our evolving environments and flexible architecture design ethos, offering flex tenants and members the ability to flex the built environment to their physical needs. This partnership between MUST and Flex by JLL creates a symbiotic relationship and allows Flex by JLL to manage the flexible spaces while MUST maintains control of the space, experience, tenants and revenue.”
After the space opens in the second quarter of 2023, Flex by JLL will have the opportunity to lease another 20,451 square feet in two phases within the year.
“We believe Flex by JLL to be the ideal operator for MUST to partner with at this stage, given the existing relationships between the two parties spanning facility management, capital markets brokerage, leasing and development services,” Tripp Gantt, chief executive officer of Manulife US REIT, said in a statement. “We believe this partnership will generate accretive, risk-adjusted returns that are superior to the alternative of pursuing traditional leases in the space.”