Recently, Unilever has announced the relocation of its U.S. headquarters from Englewood Cliffs to Hoboken, New Jersey. The move marks a strategic shift aimed at leveraging the proximity to New York City’s extensive labor market while maintaining easy access to existing talent in Bergen County.
Unilever has signed a long-term lease for 111,000 square feet of office space at SJP Properties’ Waterfront Corporate Center 1 on River Street in Hoboken. The company is expected to move into its new headquarters by the spring of 2025. This relocation comes just six years after Unilever revitalized its Englewood Cliffs campus. The new space is significantly smaller than its current 325,000 sq ft office.
Despite the headquarters move, Unilever will keep its research and development division at the Englewood Cliffs location. CBRE, which represented Unilever in the relocation, emphasized the strategic advantages of the new Hoboken location, including a walkable, transit-oriented environment that appeals to modern tenants.
Alexander Erdos, Senior Vice President for Leasing and Development at SJP, highlighted the importance of Hoboken’s safe, pedestrian-friendly environment and the strong support for high-quality tenant buildout as key factors in Unilever’s decision.
According to Unilever’s latest financial report, the company’s revenue for the first half of the year was €31.1 billion, a year-on-year increase of 2.3%. Previously, Unilever announced that as part of CEO Hein Schumacher’s strategy to revitalize the growth of the consumer goods giant, the company plans to cut one-third of its office positions in Europe by the end of 2025.
