In a transaction arranged by CBRE, CoreWeave (CRWV) has inked a 31,000-square-foot, long-term expansion of its office space at Eastman Companies’ The Eisenhower, less than a year after its initial 31,000-square-foot lease. The Eisenhower is a Class A office complex located at 290 West Mount Pleasant Avenue in Livingston. The rapidly growing artificial intelligence (AI) company houses its corporate headquarters at the site.
The CBRE team of Jon Meisel, Erin Wenzler and Dan Casey as well as Eric Maurer of Eastman Companies spearhead the leasing campaign at The Eisenhower and represented the landlord in the negotiations.
“With a value of $57 billion and massive new capital infusions, CoreWeave is one of the fastest growing AI companies in the country. We are thrilled such a cutting-edge technology company has invested in The Eisenhower for its headquarters as it continues to grow its cloud-based data center business,” said CBRE’s Jon Meisel. “CoreWeave has been rapidly expanding its footprint including a $1 billion investment in a data center in New Jersey. This yet another example of its investment in the state.”
“There were no other competitive buildings in the Livingston submarket that could deliver on all of CoreWeave’s needs, including an expansive list of on-site amenities, 10+ conference rooms and auditorium, back-up generator, walkable retail, building signage and space to expand,” said CBRE’s Erin Wenzler. “In addition to top-quality office space, the AI firm was also drawn to the property’s steady and stable ownership.”
Eastman Cos. recently refinanced and recapitalized The Eisenhower. The office building includes a 220-seat auditorium with state-of-the-art audio and video equipment, more than 10 conference rooms, parking deck, new electric car chargers, a full-service cafeteria, walkable retail amenities, game room, loading dock and multiple fitness options. In addition, Eastman Companies recently completed a new, fully furnished co-working suite, available for tenants looking for small flexible spaces.
CoreWeave was represented by Jamie Ragucci, Kevin Murphy and Aaron Sommer of Newmark.
To access more business news, visit NJB News Now
Related Articles: