K. Hovnanian Cos. Secures 72,388 Square Foot Office Lease At 101 Crawfords Corner Road In Holmdel

The asset involved in this transaction is an office space located at 101 Crawfords Corner Road in Holmdel, NJ, consisting of 72,388 square feet. The property is notable for serving as the new corporate headquarters for the homebuilder K. Hovnanian Companies, LLC, through a long-term lease arrangement.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Address: 101 Crawfords Corner Road
• Market: Holmdel, NJ
• Landlord: Ralph Zucker - Inspired by Somerset Development
• Tenant: Brad O’Connor - Hovnanian Cos.
• Landlord's Representative: Jeff Garibaldi, Lindsey Florio & Tara Keating - The Garibaldi Group - NAI James E. Hanson
• Tenant's Representatives: Peter Ladas & Scott Stange - JLL; Joseph A. Sarno & Jonathan Meisel - CBRE

This lease agreement includes a sublease with iCIMS, followed by a direct lease extension with the building owner Inspired by Somerset Development. JLL played a key role in representing Hovnanian in this transaction, facilitating the process for the tenant's relocation.